Well, I think I could get used to the being beaten up. I was a Center in my High School Football Team as well as a 215 pound wrestler...
But yeah, I'd rather be a manager. Less chances of injuries, more chances of talking...and they just seem to have more fun.
Plus, while your competitor is wrestling, you can taunt the fans a bit.
EDIT: Oh, and my manager gimmick (like how Heyman used to have the Cell Phone, Hart had the Megaphone, Captain Lou had the rubber bands on his face) would be having mini-title belts on my wrists. As a heel manager, I'd give one to my protegee...have him (or her, depending) wrap the belt around his/her hand and clock his/her opponent with it.