Of course you should get a bunch of old pro wrestlers liquored up and start talking shit about each other, what could possibly go wrong? I'd love that show, but it would only last until someone said the wrong thing to Harley Race and he decided to beat the living shit out of everyone including the fans.
Turn it into a combo roast/Gong Show type deal, except instead of hitting a gong, it is Harley deciding he's had enough and beating the shit out of someone.
Even better, Harley rings the gong before he beats the shit out of someone.