Excellent Points CC.
I'd also like to add that in ku tuckdom, the "we had and have options" banner is being unfurled again.
Apparently what many of them can't seem to get that as of right now the major networks aren't that down with the "super conferences" concept, and as CC pointed out the Big 12 model is exactly what mega programs like Texas wants.
At this juncture it would be absolutely absurd for a school like Texas to entertain anything else because they have exactly what they want, and a reasonable chance to always be at the top or near the top in every sport in this conference, thus ensuring post season entry, and winning; winning boasts TV ratings of their own network.
The round robin format of the Big 12 is an extremely intriguing TV sale as well.
It could be easily argued that the new Big 12 is the wave of the future.