I thought it was pretty good - never saw the Horsmen reforming, that caught me offguard.
From my memory, I believe the feud came about when Flair was routinely sending Arn in to do the dirty work that Flair didn't want to do. This was most evident at the August 95 Clash of the Champions where Vader met both men in a handicap match, going over Anderson clean after Flair was too scared to make the save.
I believe Arn also had words with Flair after a match with Alex Wright on Saturday Night, saying he killed the kid in 10 minutes at Slamboree but Flair could barely get by the rookie.
I liked the fact Arn went over, as it was the only surprise of the night, but I could have done without Pillman's interference or Arn turning heel.