So if I understand it correctly, Ion is a living being that is the epitome of Willpower, and Parallax is a living entity that is the epitome of fear. This being siad, do you think it is possible for DC to introduce Rage, Avarice, Hope, Compassion or Love entities (btw, what exactly is the "love beast" or whatever that lives near the violet power battery?)?

Edit: love beast question answered.

Wasn't there a Predator that the Star Sapphires were keeping imprisoned that escaped?

Yes, there is a Predator that the Sapphires were keeping imprisoned. The Zamarons had thought to use Carol as the host for the entity, but the destruction of the Central Love Battery (wow, that sounds weird) set it free.

Was the Predator similar to Ion and Parallax?

i could have sworn that i saw in an interview with Johns that he wanted to have an entity for each corps

Yes, it was implied that it was. Right now we know of 4 total.

Black Hand (Black)
Ion (Green)
Parallax (Yellow)
Predator (Violet)

The other four are unknown, I speculate that Dove might be the White Light version.

Please please pleeaaaase make Doomsday the entity for Rage.

DOOMSDAY NEEDS A RED RING, DAMMIT!
Doomsday gets a Red Ring, War OVER. lol

Now I'm confused. How is Black hand an entity that can possibly posses someone else? Same thing for Doomsday?

Did Ion, Parallax, and Predator used to be just super powerful things that turned into entities capable of possessing a host, or is everyone just confused?

Freddie Mercury is the guardian entity of Awesome.

The other poster wishes/hopes that Doomsday would be the entity of rage. Black Hand is the avatar of Nekron. I would say similar to Salaak for the Green Lanterns or Lyssa Drak for the Sinestro Corps. Scar is the Guardian of the Black Lantern Corps while the corpse of the Anti-Monitor fuels the Central Black Power Battery. The power source for the Star Sapphire Battery are the original corpses of Hawkman and Hawkwoman.
The Predator, Ion and Parallax are all beings that have used host bodies. None of the other corps: Blue, Indigo, Orange or Black have shown an entity that represents them yet. If anything, Nekron may himself be the entity for the Black Lantern Corps. They have been shown to function without having to use a host form.

Ummm...the Green Lantern Corps were imprisoning Parallax in their battery. Since the Star Saphires had a "Predator" in captivity, if it's a emotional entity (that sounds weird), then it's more likely the Black Lantern's entity.
IF Black Hand has anything to do with the entity, he probably has it in him...The entity can't BE a person...so it's not Black Hand

Ummm the whole point of the emotional entities is that they ARE the power source for the batteries...Doomsday can't BE an entity, and IF he was, he would be the power source, not a ringbearer...
He COULD be a Red ringbearer though!

I think Larfeeze will be shown to already be possessed by whatever the Orange version will be.

He's not. But it was stated in the GL issue leading up to Blackest Night that he is now an entity on par with Parallax/Ion etc.

So he fills that niche.

Of interest - Ethan Van Sciver created the symbols for each corps based on the form of the entities they represent. He wanted them to represent almost cave drawings of the first people to encounter the entities.

Are we sure he was referring to the ENTITIES of Parallax and Ion, and now the Hal Jordon Parallax and Kyle Rayner Ion?
What if Black Hand has the Death Entity inside him like Kyle had with Parallax and Ion?