It's hard to say if West Virginia would be an upgrade. Two BCS bowl games and a Final 4 in the last five years compared to MU and their two BCS bowl games and Final 4 in never.
If Moo Zu is out, who would be the third team to make 12? 
Either BYU or Cincy.
Which one would add more to the conference? BYU would bring a national audience, but Cincy would have the added effect of killing the Big East and forcing Norte Dame's hand.
Well, Cincy will probably fit more, geographically, and they will most likely not cause problems. They'll easily fall in line.
BYU will bring much more value, overall, but they bring LDS baggage and will be geographically remote.
Pick your poison. Notre Dame's hand is going to be forced not matter what because if they stay in the Big East, their non-revenue sports are going to make absolutely no money, and that Big East TV contract isn't enough to cover everything. Taking WVU and Louisville will kill that conference.
I think the best case scenario, honestly, is BYU football/ND basketball & non-revenue with agreements for ND to play Big 12 members (which will add value to TV contracts). Then, if we're at some point where the landscape forces ND to choose a conference, hopefully their little mini-alliance with Texas and BYU works in our favor.
