Jeff Hardy winning the European Championship was hilarious to me, mainly because a week prior to said victory, he fought the Undertaker in a ladder match for the Undisputed Championship, a match which I was the only person who thought it was highly overrated. People talked about how Jeff was going to get a push from that match, and his push was... winning the C-level championship.
A few final tidbits concerning the nWo
At the time of the nWo's demise, as JaKyL stated, the nWo was telling Trips to join them or else. Rumor has it that the original plan was for Triple H to stay face and feud against the nWo, going from ppv to ppv beating down various members (Pac, Big Show, Nash, all the way up to WrestleMania XIX where Trips and HBK would face off, supposedly). Of course, two things were slowly putting this to a halt.
1) Nash's torn quad, which was the final nail in the coffin. Nash's injury would keep him out of action until April 2003.
2) X-Pac being released from the WWE (yay!), due to behavioral issues and due to passing out at an airport
Speaking of X-Pac, he was booked to job to Booker T around (or even at) Vengeance. Pac refused to do so, claiming that the fans came to see him more than Booker T. With Pac's release, Booker T instead feuded with another nWo member for less than a month.
No Alliance members were given a pink slip during this time period, but Raven lost a match to Tommy Dreamer, which banned him from Raw. Instead of trying to go to SmackDown, Raven chose to make Heat his personal playground. He instead had a storyline that went nowhere, and feuds with Matt Hardy, D'Lo Brown, and Tommy Dreamer, all which went nowhere as he spent the final six months of his WWE career on Heat.
Edge returned from injury after King of the Ring and continued feuding with Chris Jericho. The two originally had a match booked for Vengeance, but with Edge winning a tag title with the Hulkster, Jericho was able to dodge a bullet and got the ppv off.
Finally, another stable was formed shortly after King of the Ring; what started out as Lance Storm going on an Anti-America tirade soon turned into three Canadians and one British guy bashing the USA and becoming some of the biggest heels as a result. Lance Storm, Christian, Test, and William Regal formed the UnAmericans!
Best TV match during this time period is Undertaker vs. Kurt Angle for the Undisputed Championship on Independence Day's SmackDown!
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The photograph reflects, every streetlight a reminder; nightswimming deserves a quiet night