As a dual ISU/UNI fan (grew up in Ames, went to school at UNI), I would love to see it go back to a home-and-home arrangement after the Big 4 Classic expires, but I'm also pragmatic enough to realize that the most likely outcome would be a 2 for 1 or 3 for 1, which would be better than not playing each other at all.
If nothing else, maybe the Big 4 can be rearranged to make it a better event for all involved; I like the idea of making it a round-robin sort of tournament, crowning the state champion sort of deal. UNI was down last season (relative to their recent success), but I'm hoping that was an aberration as opposed to the norm for the next few years. I would rather have ISU play UNI again next season than revert back to Drake; UNI returns almost their whole roster plus adds a transfer from Virginia. I'll be disappointed if we're (UNI) not on the bubble at the very least next season.
And, if we do drop both schools altogether from the non-con schedule I don't think it's a given that we could automatically pencil in a home and home series with another BCS power. I think it would probably be more likely that we would just bring in another low/mid major like a UNC-Wilmington or Northern Illinois type of school again.