I think CC had an interesting idea of moving Edge to Smackdown after he jobs to Matt. They could have Edge say that his MITB shot is the World Heayweight Championship, which is now on Smackdown. Have him threaten legal action or something, say that Bischoff and Longs hands are tied and he ends up on Smackdown. I think him playing an almost "anti-smark" character would be interested, especially if he cut promo's on how he didn't do anything to earn this shot on Smackdown and there's nothing people can do about it. Kayfabe-wise this would give the Smackdown locker room a reason to hate him as a heel and would allow to him to develop a better (aka Lita-less) persona.
If anybody could think of shit for him to do after this I'm all ears.