If I was the Big XII I'd push hard to try to get a deal done with NBC. Right now the only college football games that NBC plays are Notre Dame games, which Notre Dame hasn't been able to produce for NBC. To be the only school with a deal with NBC is kind of ridiculous. Sure it was viable when they were averaging 9 or 10 wins a season throughout the 90s and then the early 00s, but they haven't done anything in a while. A Big XII NBC deal in 2012 will force Notre Dame to look more seriously about joining the Big 10, giving the Big 10 their conference championship.
Add to that the 4 major networks would each have at least one BCS conference games exclusively. (CBS the SEC, ESPN/ABC the Big 10, Fox Sports the Pac 10 (though that's split between them and ESPN/ABC), then in the future NBC the Big XII)
I think if we're going to see something really big with College Football (whether it goes to a playoff or not and what's going to happen with BCS conference expansion) will be decided during the 2012 season. Why? Because everyone's TV deals expire at that time.
A Big12/NBC relationship seems appealing on the surface, but something to consider is that NBC would be far from a stable business partner at this point. And after the 100 or so million dollar loss they are expected to eat by airing the Olympics, they probably won't be throwing a lot of money around to anyone in the near future. (Unless your name is Jay Leno of course.)
I think the biggest problem for the Big12 is that their TV deal is with FSN and not FOX, (Nice job Kevin Weiberg! :thumbs ) so a majority of Big12 conference games are relegated to some grainy feed on channel 800 somewhere, and that's only for those who have satellite or digital cable and the FSN package for that region. What I would like to see is FOX step up and air CFB games nationally on saturdays but my guess would be that they have most of their money already invested in their the NFL, MLB, and the BCS contracts. So it would appear the Big12 is S.O.L. for the time being.