I am likely a select few on here who actually saw one of the warmup games for Team Canada. I saw them take on the Lloydminster Midget AAA team. Team Canada was missing a lot of their regulars that night and Shannon Szabados was the backup. They did lose, but didn't look out of place playing the Midget AAA team. It was obvious the women were faster and more skilled. It wasn't painful to watch or boring as sin. I actually enjoyed the game and would definitely take in a CWHL game if the opportunity ever arose.
As for a WNHL, that will never happen partly due to the snobbery of sports fans toward women's sports. Even in sports where they are as good as men (or better) like softball, the NPF struggles to compete with minor league baseball. The only time the average sports fan tunes in is if there is major sex appeal.
However, if a WNHL were to play a summer schedule, they may be able to attract some hockey starved fans. Many CHL arenas are largely empty all summer, thus would be willing to rent out the arena fairly cheap to a WNHL team. However, you'd have to find owners who would be willing to take a risk on this. The WNBA was not mandatory for all NBA ownership to take part. Some NBA owners saw potential in it and signed on. However, today you have about half the teams owned by other groups than NBA owners and the league is in a constant state of flux. It is rumoured that the league is about to lose the LA Sparks, if they lose the Sparks, I'm thinking the WNBA is going to have a hard time justifying their TV deal with ESPN/ABC.
That said a WKHL might actually work. It is a very weird notion in Russia that the oligarchs see winning a championship as prestige for them. Thus, they pay ridiculous salaries to players in sports, where they will lose money. I read this about women's basketball in Sports Illustrated awhile back. The owners of the team spend millions on salaries for their teams and have 500 people paying to watch the games. The players are treated like royalty by the owners and fly on chartered planes. One player described it as NBA style treatment, that they don't receive in the WNBA. If the KHL decided to do this, you could see oligarchs flocking to purchase teams for the same reasons as owning a women's basketball team.
Would a WKHL raise interest in the women's game? Not likely. But it may help raise the level of play at international tournaments as the best women would be in this league and paid handsomely to do so.
As for skill level, take this example Hayley Wickenheiser, who has long been considered the female Wayne Gretzky, she initially played in Finland's Suomi-Sarja, which is Division 3, in '02-'03 and she had 1 goal and 3 assists in 12 games. The next season her team was promoted to Mestis, Division 2, and she had no goals and no assists in 10 games. She gave men's hockey a try in '08-'09 and played in Swedish Division 1, which is Division 3, and in 21 games had 1 goal and 2 assists. I mean the Mestis she may have seen some good players, but anything that is Division 3 she is seeing guys who are at best ECHL level and she couldn't do a thing. So that tells you the difference between men's and women's hockey.