Fantasy booking time:

Slaughter's inadequacies as a main-event heel in 1991 are well-established (even though the WM7 match turned out quite good).  However, had they done a Hogan/Slaughter program in 85 or 86, that would have done big business, right?  Maybe not as much as what
Hogan/Orndorff did, but I think they'd still be rolling in it, I'd think.

The other question that this bit of what-if prompts is what would Slaughter's heel character have been (we will pretend that there was no GI Joe deal that would make being a heel undesirable)?  They could have gone back to the sadistic drill instructor routine,
but perhaps something a little more interesting would be to set the feud up as a clash of different ideas about America: Slaughter as the authoritarian warmonger who's all “the strong must rule the weak” and Hogan is the more optimistic, welcoming “fight for
the rights of every man” type.

The problems I could see with that angle are: maybe too “shades of grey” for 80s WWF, and given the climate of Reagan's sabre-rattling, Slaughter's character might not be seen as particularly heelish.  But that would be smoothed over by the fact that crowds
will naturally side with Hulk, and if Slaughter opposes him, that means he's bad, yes?  Anyway, the point of all this is Hogan/Slaughter is nothing in 1991, but it's money in the 80s, agree?

Oh definitely.  And taking Slaughter back to his sadistic drill sarge roots would have been the way to go.  If you do the cobra clutch challenge gimmick like on the 82 Mid-Atlantic shows I reviewed and build it up to Hogan being the guy to finally escape the move, that's your money right there.