I think trash talk is a big part of the fun but most people around here are a bit too sensitive so I usually don't. Funny you mention WWE style rivalries though. One of my friends told me he wanted to make a clan to show support for this great game. The idea we came up with is to base it off pro wrestling. Meaningless belts to obtain, rivalries, trash talk and somewhat of a flexable structure to determine matchups. It will be closed at first until we figure things out but I would eventually like to have a roster of about 30 players of varied skill levels. Main eventers, mid card and jobbers. If anyone is interested let me know when the page is up.
I leave you with a compilation of ultimate retardedness
http://youtu.be/cF4ZTcuhixc