They should have pulled the trigger earlier with Bully Ray when he had all that momentum but I don't think that it is too late for them to do it. If Bully Ray ends up being the Aces and Eights leader it would also be the perfect timing to have him win the title just as he is revealed as leader of the stable. The card is a bit of a let down since TNA are down to just the four PPVs so they have so much more time to build the card.
To be fair I was thinking that too which is why I am sticking to Ray as my prediction to take the title. With this being Lockdown it seems the perfect event for something big like that to happen, also storyline logic says he can then say he dropped ship because of TNA taking him for granted for all these years.