Wisconsin is one of the top 5-7 public research institutions in the United States. It is a research juggernaut. Illinois, Michigan, Northwestern, Ohio State, Penn State, Minnesota are also absolute powerhouses in academic research. The B1G is a an extraordinary academic conference --- no other conference (of major sports prominence) is even close.
This is all true except the part about no conference coming close. The ACC is actually equal if not better.
The ACC is "better" on rankings of their individuals institutions but what does that actually mean?
The B1G is no slouch:
(shamelessly stolen from wiki)
With the addition of Rutgers and Maryland the Big Ten will have eleven "Public Ivies", the Pac-12 will have five, the ACC will have two, the SEC two and the Big XII one.
The ACC is great and all but it's really quite unique with nearly half the conference being small private schools and the rest of the public members riding on the academic coattails (UVA & UNC excluded), coattails that aren't nearly as great as the Committee on Institutional Cooperation found in the Big Ten.
The CIC is the gold standard when it comes to academic consortia and has been for more than half a century, providing a model all other conferences are trying to emulate by establishing their own: ACC in 1999, SEC in 2005. The CIC conducts $8 billion worth of research annually receiving nearly 20% of all National Science Foundation grants and producing almost a fifth of the total PhD's in the US. It's a juggernaut.
The contributions of a few small private universities in the ACC are impressive but small in comparison to what CIC institutions provide this country and what the CIC can provide to member institutions. Clemson and Florida State can laud their ACC membership over their SEC counterparts but are they significantly better academically in the ACC than if they were in the SEC? Probably not, though I think over time the CIC tide will raise Nebraska's ship.
That's only one component of the whole realignment picture, an important but largely unseen one. The BTN network is a huge step up for Nebraska from the Big XII and basketball is significantly better here though it's hard to tell how that will affect Nebrasketball. Baseball is a step down but the newly formed Hockey league is one of the best in the country if the Huskers ever choose to put a team together. Volleyball and Wrestling are also improvements.
On the Football front much still remains to be seen. I don't buy the visibility grade, purely anecdotal but I've watched more Nebraska football from 2011-2014 than I did from 2002-2010. I'm not sure it's a huge step down from the Big XII in that regard and the BTN surely breaks the Huskers into more living rooms across the nation. The rest is purely coaching and it's way too early to say "well the first three years weren't stellar so it must have been a bad move." Recruiting is an odd one too...much of that is coaching dependent and when you guys first joined I thought you'd lose your Texas pipeline which you haven't and you're still pulling recruits from all across the nation which is impressive. Of course it's a quality issue and I admit I haven't kept up with this year's recruiting but have a couple good years and you'll be fine.
Moving to east and west divisions should improve Nebraska's prospects for success though I sympathize with many of the posters complaining about it being boring. I agree. As a Wisconsin fan I'm happy to be guaranteed Minnesota and Iowa each year but mortified by the rest. Aside from the rivalry games and playing the Huskers we have no exciting conference games in 2014. No Michigan State, no Michigan, no Ohio State, no Penn State. That's terrible. Nebraska's schedule next year is only slightly more interesting...kind of feels like the Big XII north all over again.
ESPN's rivalry quip is probably true with some caveats. OU-NU took a huge hit with the Big XII and it was never at the level that was seen in the 70's and 80's. The rest? Kansas State, Missouri, Iowa State? I'm no Nebraska fan but I can't imagine those were truly "rivalry" games seeing how lopsided the series were. Time will tell but I think those rivalries may form in the Big Ten, not the NU-OU level but still good and it's not as if TAMU and Missouri didn't also damage their rivalries by moving...they killed them just like Nebraska did and they've yet to develop new ones.
Texas A&M and Mizzou will be better financially in the SEC. SEC Baseball is just slightly better than Big XII baseball historically. Basketball is a step down, especially for Mizzou. Academically not much will change as the Big XII didn't have a consortium and the SEC's is young and bad. Football, like Nebraska, remains to be seen. Texas A&M, even with a Heisman winning QB, finished third and fourth in their division their first two years and Missouri, while having a Cinderella season this year, will have serious trouble achieving that again when Florida and Georgia get back to where they normally are. Overall I don't believe they're significantly better off than Nebraska at this point though they did make really good moves jumping to the SEC.
So my TL/DR on Nebraska's move:
Football: Remains to be seen but for now a B
Other Sports: A
Revenue: A
Academic: A+