Forgive the massive multi-quote. Just thought I could add some insight.
It's funny how the Big 10 and Big 12 fans view each other's conferences similarly.
I'm confused as to why you place so much importance on NCs. I'm of the mind that the regular season demonstrates much better how good a team is. There are a lot of things that come into play with bowl games (which used to be strictly for exhibition).
Lots of points raised, but I'll stick with the academics and keep it short. The Big 10 is the next best thing to the Ivy League when it comes to academics. This is combined in th AAU and the CIC. Top off that academic short list, and couple it with excellent athletics and you get quite a combination.
You're making the mistake of thinking that
One person mentioned that there are some Catholic reservations, but I would also like to note that ND has an excellent undergrad reputation. However, their graduate/research programs/facilities are lacking. It will take time and money to get them up to CIC levels. Let's remember that when ND and the Big 10 were discussing this a year ago, the academic professionals were all on board. It was the athletics that decided against the merger.
You've got to be joking.