Well, as I've said before, this character has WAY too much political baggage attached to it to be done well nowadays. The idea of empowerment embodied by Wonder Woman is differant from the modern, politically correct ideal. My thoughts on modern feminism in general didn't go over too well last time I expressed them, but the bottom line is the conflicts involving it in all of it's forms come to a head here.
What's more, Wonder Woman is one of those big super heroes that actually never was. She's maintained a consistant comic book prescence, but has never had the kind of iconic success of the comic titans, Batman and Superman, who is she oftentimes portrayed as standing alongside. Her promotion largely being due to the fact that she's one of the longest running female super heroes, not so much because of any kind of truely massive popularity (though she's never been unpopular so to speak).
One of the big problems with the DCUO game, which I believe was mentioned a few times, is that Wonder Woman doesn't have any paticularly iconic bad guys that have mainstream recognition. Everyone knows Superman and Lex Luthor, and everyone knows Batman and The Joker, but who is Wonder Woman's iconic arch nemesis? While she has an interesting rogue's gallery she really doesn't have one, and that's why they went with Circe due to her being long running and fairly well known, but at the same time a lot of people were going "huh, who is Circe?" and among many people who did know the character they thought she was done pretty badly in trying to get her on the level of the glorious cheez that was Lex and The Joker, when as some people have pointed out Circe is actually used as a reluctant anti-hero with some frequency, and could be considered almost more of a rival of Woder Woman's with a differant perspective than an outright enemy when you look at the big picture. The plotline of DCUO having a lot of people going "WTF" since Circe wouldn't try and help summon something like Trigon, she might try and steal his power, but at the same time if something like that is coming that's typically when she winds up switching sides for at least a while.
Then again of course, how campy Wonder Woman is depends on exactly what version of the character your talking about. She's probably undergone more radical re-envisionings over a shorter period of time than most characters. Is she more of a "physical training" type character, or a powerhouse on the level of Superman? How much innate magic does she have? All of these are valid questions and can be answered radically differantly over a period of a couple decades (which sounds like a lot until you consider how old this character actually is).
I think the problem with this show is ultimatly going to be that rather than giving a consistant version of Wonder Woman from some point in the series, they are going to try and create entirely their own version based on some very basic concepts. The idea here not being any paticular love for the character, but the marketing potential in cashing in with a female super hero and the Wonder Woman name.
The costume is interesting and all, but I think sort of summarizes the problems with a show that is trying to be something specific, while only wanting to maintain the most vague connection to it.
Honestly, if it was up to me to try and launch this show I'd probably go less with the modern "grrrl power" demographic being described, and push prime time to the limits with the bondage camp (which doesn't exclusively wind up with her as the victim), or just launch it on a network like HBO. Of course then again I wouldn't be aiming for a massive success either, because I'd be very surprised if this IP could very carry that, since it never had that much of a widespread appeal to begin with.
IMO if your not going for the bondage/lesbian thing (and this sort of worked for Xena) I don't think you really need the Golden Lariet, which is somewhat out of place with an attempt to be more serious. The attempts to make Wonder Woman "Serious Buiness" have typically involving downplaying that weapon and having her head into battle with more traditional, but enchanted, weapons like swords, spears, and shields. As much as the US freaks out about sex, I will say that Prime Time seems willing to push that angle right now, a lot more than the graphic violence inherant in portraying Wonder Woman as a very violent, and very lethal, character like is the case with the serious versions.
It's also noteworthy that Wonder Woman tends to behave in a more "iconic" fashion, being an Ambassador, stealth and shadowy vigilante type stuff isn't exactly here speed usually. She's very much "here I am with a flashy costume, I'm going to walk right in the front door and pound you into goo, and I don't care if anyone sees". Indeed her arrogance is her kryptonite so to speak, and the weakness that can be most exploited, it was key to the solution Batman came up with in "Tower Of Babel" in how to disable her (as cheezy as it was).