I agree, i think the Y2J persona is dead and will be for a good while yet. He can feud with pretty much any of the faces on smackdown, most points have already been made but:
Taker - furthering legend angle, ending the streak/ hbk
Jeff - "you do anything to suck upto these hypocrites, would have more success if you weren't a screw up" etc
Punk - questioning his morals, over mitb (you beat me to it last year on the ladder and lost the title, i deserved it! etc)
I think taker is likely over the summer/towards mania. i would love to see a proper feud with punk as they can put on top matches and we never really got a good feud last year after the cage match, punk went after the tag titles instead.