Ah, yes. The age-old "Who hit [iNSERT NAME] with a car?". I'm positive that you can deliver a better story than the WWE/F did with Austin. Wasn't it Rikishi who hit him in the end? It only took a year to find out...
I think it's a great play on the storyline. Everyone expects Gilmore to get his revenge as A) he's a favorite of many of us, B) not many like Eric Eisen and C) the game kind of dictates it from the start. That said, what would be the fun of Angry Gilmore getting his revenge in January? It goes against every fiber Eisen's dubious character. He's more chicken-well you know than being a full-fledged fear-driver. So, what does he do? He gets Gilmore with a car before he has the chance to 'get even'.
This extends the feud out longer & really gives it more room to breathe. Plus, once Gilmore DOES get his revenge, it's at the point where it means SO much more.
Would you strip Gilmore of the belt? Keep him off TV for awhile? I would think, getting in a car accident, that you may have him off TV for a few months but you can always go the route I did and have him defy doctors in which to compete (only to show signs that he really ISN'T ready to be back yet but his extreme rage won't allow him to stay away).
Overall, seems like a great storyline to progress their feud. It makes you want Gilmore to get revenge THAT much more!