lotsa new info abounds on wrestingly sites, like good housekeeping.
the claims are that he is codenamed melinda rosales (?!) and will be revealed in some fashion at this year's Wrestling Expo Thing, aiming to launch 2012. on top of him doing push ups to get back in shape, they also claim he will be "significantly more powerful than the rock and uhhhh another wrestler person" with the company that runs the wrestling thing going after the gay market.
they claim he will be backward compatible, which means you can use your old hulkmania bandanas. however, there are also claims the his moustache will be "traditional" in design. ...other than it also featuring a built-in touch screen that can also stream wrestling content from the console to the controller, like a mini TV. i guess he's a robot?