BWAHAHAHAHAHAHHAHAHAHAHAHA! If it is true...Lesnar's had a short career undefeated. Fedor will eat him.
Fedor has options, but someone of his stature should be competing in the premier MMA organisation, not some upstart that'll likely go broke in a year or 2. He can throw that WAMMA belt in the trash where it belongs while his signing his new UFC contract
What matters most is who is in the ring with him, the organization is just politics and idealism as far as I'm concerned. The WAMMA belt is a great idea, wether or not it ends up being significant doesn't depend on who's right but who's left. And thats unfortunate for the fans.
I hope it happens, but not getting my hopes up til I know it's for sure. Check this out: http://sportsillustrated.cnn.com/2009/mma/07/28/Emelianenko.Octagon/index.html
If it wasn't happening they wouldn't make this much fuss and bother with announcements. They didn't before Afflication when they were in negotiations with Fedor. They just straight up said it without announcing announcements.
I hope it is true, but I will believe it when I see it. I doubt we will get any major news from the press conference.