Only problem with the original ECW is that the hardcore stuff pretty much became what defined it, meaning that as far as WWE/F was concerned, and a lot of people in the business for that matter, the wrestlers in ECW were not necessarily that good.
There is some truth to that as well, as guys like Sandman, who were huge in ECW, really showed their limitations in WWE and WCW.
I've never personally been a fan of hardcore matches. I can recognize when one is done very well, though. But, for the most part, it's people hitting each other instead of wrestling and making the bleeding aspect of wrestling all too common an even a necessity with some fans.