With regards to the 92 Rumble, even though we were still in the land of kayfabe, some fans had enough of Hulkamania. Hogan was booed out of the building in the post Rumble face-off with Sid. There was no way that Vince was gonna stick Hogan in a match with Flair and risk the crowd cheering for Naitch instead of Hogan. So Flair gets the strap at the Rumble instead.
I'm a little bit older than most on here so my fave Rumble will always be the 1990 one. Watching it live at 9pm was great. True story : my sister is little older than I am and she was in a bar called Kings in town that night and said the whole bar was glued to the telly when the Hogan/Warrior stand off happened.