Back in '93, when they did the whole changeover to Kyle Rayner as the sole Green Lantern, I actually created my own GL. I placed it in 2070, and had Kyle still the GL. I made that due to properties of the new ring Ganthet created greatly extending Kyle's lifespan. I thought it a cool idea; my GL ended up absorbing his battery and getting Sinestro's yellow ring. Keep in mind, this is all before the Sinestro Corps came out.
A friend of mine at work wrote out first a six-issue storyline for him, then a second. He went so far as to pitch the idea to Rick Mars, who was writing GL at the time. He said it would have to be submitted, then looked at by an editor who weeds out the crap. Then another editor looks at em for possibilities. Then another editor looks at em for good, workable ideas. THEN it can get written the way they want it. He said mine would be an Elseworlds, since it was outside the current timeline/storyline of the comic. We never did end up submitting it. I still think it a was a good idea though. I've always thought the GLs to be wayyyyyy underdeveloped and held back. My GL was more along the lines in power/ability of those who are entrusted with the Ion power.
*shrugs* Oh well.