WWE'13
I mostly play it for it's excellent customisation suite, rather than playing as any of the actual wrestlers, I just create my own shows, arenas, wrestlers etc. I've been doing it since 1998/9 with WWF Attitude, so the main characters' stories have progressed and such like it's own wrestling tv show, even though I don't really watch it.
Here's the current roster:

Grime Styles, Garcia Gonzales, Donovan, Jessica Watt & Soozie Sunshine are based on common thugs from Streets Of Rage, with Abedebe being based on the wrestler level boss in them. The Newman family are based on the characters from Turok 2/3, but have since developed their own personalities.
The Black Sphinx is an unused Jack Kirby design, which as soon as I saw it, I just had to turn into a wrestler.
Bane is obviously Bane from Batman (and featuring the same moral ambiguity). Kinda the undefeatable monster. His current story is a desire to train the best of the new generation.
Generally there's a set cast of 20-30 who I've made EVERY YEAR for the past 12 or so years, some 'retire' some get added, and the remainders are generally created new for each game, and the ones that work well in the stories I set up will become parts of that main roster.
The past few games have had a 'universe' mode, which basically sets up a continous schedule of shows, though you can edit any of the matches, or events or titles... everything really. And it will develop random storylines, so it's just a continous mode, which allows me to have my custom shows:
Heavy Artillery - Monday night 'raw' style show, focusing on the heavyweight classes, and the main story arcs (Roster is Black Sphinx down to Donovan)
Dragon Night - Wednesday's show, focusing on lightweight and 'unorthadox' style wrestling as well as new comers. Think old 90's ECW (Roster is Miles Sullivan down to Parker Blade)
TKO - Saturday's show which combines the two
I put way too much thought into this.... but yeah, it's fun, so fuck it.