The jury's still out on Fandango, as far as I'm concerned. Like some said before me, it's a foot in the door for Johnny Curtis, if he plays his cards right.
It's a plus and a minus that they pushed back his debut for so long (taking that extra "o" out of his name early on, thankfully), then pushed it back an additional two shows with his refusal to wrestle on SD and Raw. I'm not sure the majority of wrestling fans were waiting with baited breath for him to debut. I think the character lost some interest because it was drug it out so long... and he's still not wrestling yet! Drawing out an in-ring debut like this can backfire if they don't watch out. They were able to do it when Jericho came back last year because it wasn't a debut... and he's a recognizable name.
On the flip side, doing this on Raw last night also wasted Kofi Kingston, who is being underused right now as it is. If you're going to waste someone on a show, use someone lower on the totem pole.
It's interesting to me that WWE is actually going back to a more character-based persona with Fandango. I've posted before about the evolution of characters in pro wrestling in recent years, so running Fandango out as not just someone in black tights using their real name or a real-sounding name is bucking the trend.
While I admit that I'm not fond of another dancing character when Brodus Clay and "Sweet T" Tensai (/facepalm) already use that, I'm willing to give anybody a shot to run with whatever Creative gives them. If Curtis can really believe in the character, he could ride it for a while. Personally, I don't see Fandango lasting long because, IMHO, it's just plain silly. But, I've seen dumber characters go farther than I thought they would, so you never know. Personally, I don't see it going any higher than a mid-card feud maybe for the U.S. or IC title at best.
Who knows? Maybe he can be the GM of Saturday Morning Slam.