I am certainly not suggesting something completely out of the ordinary, or massive. From what I can tell I just feel like he should have more to his character, appearance wise. Take for example, "Entrance Attire". At first it seems unimportant, but I find it to be relevant. This will sound silly, but a top hat, one glass bifocal(like the Monopoly Guy), and dressed like a distinguished gentlemen from the 19th Century. He already has half the gimmick going with his condescending, elitist attitude. No one ever seems to mention him when talking about using a fresh look.
Some of the greats changed their looks, or at least bumped up the appearance. Hogan, Austin, HBK, Macho Man, Sting, Lex Luger, etc. He is still strong in terms of overall character delivery and mic work. There just needs to be a fresh look going for him. His entrance music is great and also a classic. I honestly feel like he should show up in a Roles Royce with a driver opening the door for him. Allow him to have a personal assistant whom he talks down to all the time(NXT Sami Zayn). He is going stale right now and this is a strong way to freshen the character up a bit.