In my honest opinion...
I think on one hand, it is very distracting and detrimental to an old-school feel, IF that's what people want to use it for.
To see an old arena and a new HD stage, just causes a very hard-to-ignore clashing that I just can't easily get past, and I get that feeling here with this video.
BUT on the other hand, it really only makes classic arenas look awkward. New style arenas and custom brand new ones will still feel good, and that is probably more important.
And on the other, other, other hand though, I can most certainly live with it, just as you say. And all it really detracts from is recreating a pre-2002 feel, and so much more can be done with it than that.
That and until the game is in my hands and I know all the options, I'm really not qualified to pass any judgement on how it truly ends up being.
For all I know, there MIGHT be other selectable stages.
I'll just have to try really hard to pretend that this new HD set isn't there, if I have any inclination to have a classic Raw is War, WCW, or old style ring. I can do that. And I'm just happy this is here at all. It is wonderful and I will get so much use out of this.
Things are looking very good though, for my new Brand that I want to create.