I've read the Austin/Orton thing a few times but I don't buy it that much TBH. Austin was a tough, hell-raising brawler who was out to cause havoc for Vince who was trying to hold him down/away from the title etc. They're trying to sell Orton as a more cold-hearted, sadistic fighter. The thing with Orton is though, he doesn't seem to have any particular reason for being like that. Like I said, Austin was feuding with Vince, 'the man' was trying to hold him down etc. Orton seems to be out to hurt people just for the sake of it.

Austin seemed to take a certain amount of pleasure in what he was doing, Orton..... doesn't show much emotion. Which I guess is what they're going for, but it makes him a lot different from Austin IMO.
Hogan/Cena, maybe. They both appeal to kids, but I'm not sure how much I'd say they're modelling Cena on Hogan. I'd say I can see more similarities between those two than I can Austin and Orton. It's a bit harder for me to comment on this one since I wasn't there to watch Hogan in his prime. I know he's like the most famous wrestler in the world, but I still can't say all that much about what he was like as a character in the late 80s/early 90s....