The Big 12 rejects would be in the position to cherry pick the MW and American conference.
With some big 12 rejects I think the MW could of cemented itself in a pretty decent situation.
I think you would have seen the Big East take "Forgotten Five" (Baylor, TCU, KSU, ISU, KU), and that group would have joined WVU, Cincy, UConn and USF in the split to the American. I'm sure UCF, Memphis, and Houston probably would have rounded out that crew for 12.
Divisions probably would have been the 5 Big 12 teams + Houston, and the other would have been WVU, Cincy, Memphis, UConn, USF, and UCF.
Anyway, that's what I think was more likely. KSU to the MWC doesn't feel right. The Big East was aching for anyone with a competent football program.