There is a real interesting battle between the MWC and the Big East. The winner will easily be the 6th best conference, which is actually very important under the new structure starting in 2014. The problem with BSU, SDSU, Houston, and SMU heading to the MWC is the TV deal. It is horrible, while the Big East is currently negotiating a new one. While the new Big East TV will be far below the big 5, it will still likely be at least 2 to 3 million over what those schools would earn the Mountain West.
I think the Big East could really help itself by creating a all-sports division in the West and invite BYU (not to likely) Fresno, UNLV, and maybe New Mexico. They could mitigate travel costs by mostly playing in their own division while playing a few games/tournaments with the Eastern division.
Not a great football conference, but easily #6 and with Uconn, Cinci, Memphis, Temple, SDSU, UNLV, and New Mexico it would be a heck of a basketball conference.