I came across this randomly and my BF used to be a professional wrestler and he saw this over my shoulder. He then wanted me to answer it. xd His reply follows. hehe
Absolutely, frequent weight training and cardio training is a necessity to be a pro wrestler of any value as well as a diet aimed at that goal.
Diet doesn't do anything to the hair, it is normally shaved and/or waxed. It is done for two primary reasons:
1) Appeal. It simply looks better than wandering into the ring looking like an ape, unless that is the gimmick you are going for.
2) It prevents unpleasantness through a lot of the moves, like chops to chest ripping hair out or being instinctly used as a grip during a move. Saves a lot of trouble, as well as keeping the body nice and cool through the match, plus if you're particularly muscular, it increases your apparent definition (A lot of guys do this anyway with lotions of very watery oils, which is why they shine before they even go into the ring)