How it may go down
Say the two of the weaker conferences, the Big 10 and Pac-10, desire to overtake the Big 12 and SEC. Scheming together, they essentially form the Big Television Conference with two sub-conferences (Pac-16 and Big 11+1+?), and a total of 4 divisions. Rose Bowl as their conference title game. May need to throw in a Lonestar BCS game to get Texas on board. Two peasants for the dirty work (UN-L and MU), one of which may get lucky if Delaney is too small of a man for ND.
The ACC and SEC grab what they want from the Big East, Big 12, and Mountain-West and form the Southeastern equivalent, basically splitting college athletics along a southwest-northeast axis.
If these two mega-fractions go at it, the Big 10 is still screwed, as the SEC-ACC would clean-up.
Time for the rest of the NCAA to get political.