Hogan isn't in shape to wrestle a match anymore. Especially the caliber of one the fans have come to expect from The Undertaker at wrestlemania. If they don't go with Lesnar against Taker at mania I will be shocked.
Hogan's good to make and appearance in the Royal Rumble for five minutes and then get eliminated. Beyond that he is completely useless for any kind of in ring competition due to how many back surgeries he's had over the last few years. It's worth him being a surprise entrant in the Rumble just for the pop he would get. The arena would completely explode. He could still be part of the wrestelmania card but he would probably have somebody else wrestle on his behalf with him being in their corner.
Punk has not been pushed down the card. They were using him to try and elevate Axel and Ryback. Plus, the fans would get bored with him just like they did with Cena if all he did was stay in the main event and have the belt all the time. It's not like he's sitting aroung doing nothing. This story with Heyman has kept him busy and has given him a legit reason as to why he's been out of the title picture for so long.
Cesaro and Swagger make a good tag team but every time I watch them i'm always thinking that Cesaro is too good to be stuck doing this. Give him the IC title and let him tear it up as a single's wrestler. Someone needs to beat The Honkey Tonk Man for the longest IC title reign of all time. My vote goes to Cesaro.