This is where I have to admit that I dislike the Great Beasts almost as much as I dislike Puck. As villains go, I've never found them very compelling; I guess the threat they represent just doesn't seem very immediate, and they're not exactly overflowing with personality. The Master of the World gets overused as Alpha Flight's main antagonist, but I'd rather read a hundred stories featuring him than one with the Great Beasts.
Of course, future Alpha Flight writers -- Ha! -- could expand upon some other villains. I really like Dreamqueen, and Gilded Lily has a cool aesthetic.
Yes, very much so.
I see Walter as someone who actually enjoys being a superhero -- something which often seems like a rarity for Marvel characters -- despite the fact that he's not particularly good at it. He's the kind of guy who likes being the center of attention, and what better way to achieve that being being a 3 m tall monster person covered in orange fur?
Having him be the smart guy who turns into a brute, really doesn't do much for the character.