WCW was way ahead of the curve in terms of developing a cruiserweight division, and the WWE was far behind.  In 1997, they tried to rectify that, and TAKA Michinoku became the centerpiece of that movement.

Michinoku wrestled in his native Japan, making a mark for himself in FMW and Michinoku Pro, and it gave him the springboard to go to North America, first for ECW, and then for the WWF, where he was the dance partner of the Great Sasuke.  Michinoku jobbed for Sasuke twice, but the masked wrestler never came back to the WWF, and TAKA was signed and a division was built around him.  He won the tournament to win the Light Heavyweight Title, and held it for a year before he settling into to an enhancement team with Sho Funaki.

Michinoku returned to Japan, and formed his own promotion, Kaientai Dojo, which would help train wrestlers to reach larger ones.  Taka was still a top light heavyweight for years, and his legacy in Japan is very strong.

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With a decade plus tenure in the WWE and a won/loss record that resembles NBA expansion franchises, Sho Funaki was a great entertainer and a decent worker. Funaki is one of those wrestlers whose winning percentage does not reflect what he did in the ring. Initially a member of Kaientai in Japan, and then in the United States, Funaki was a singles wrestler for years and actually won the Cruiserweight Title with the WWE. He is probably not a Hall of Fame wrestler, but his overall body of work in the WWE is more than most people remember.