The "ancient" history matters a bit. Specifically in the 1960s when the NCAAs became clearly more important than the NIT.
But if you were to give 1 point for every pre-1985 Final Four, 2 four every pre-85 Championship, and double each for post. This is every team that has been to 5+ Final Fours and won at least one title in the modern era and, every team with 2 titles that has been to a FF in the modern era. And Ohio State, who has been to to a crap ton of Final Fours and therefore stands apart from teams like Georgetown in deserving to be listed. I did it without assumption of how it would turn out, but it strikes me as the appropriate ranking of programs relative to actual accomplishments while considering history.
Final Fours, Pre-1985 (points)
- UCLA: 14 (14)
- Kentucky: 9 (9)
- UNC: 9 (9)
- Ohio State: 8 (8)
- Kansas: 6 (6)
- Louisville: 6 (6)
- Indiana: 5 (5)
- Cincinnati: 5 (5)
- Duke: 4 (4)
- NC State: 4 (4)
- Michigan: 3 (3)
- Michigan State: 2 (2)
- Villanova: 2 (2)
- Syracuse: 1 (1)
Championships, Pre-1985 (points)
- UCLA: 10 (20)
- Kentucky: 5 (10)
- Indiana: 4 (8)
- UNC: 2 (4)
- Cincinnati: 2 (4)
- NC State: 2 (4)
- Louisville: 1 (2)
- Kansas: 1 (2)
- Michigan State: 1 (2)
- Ohio State: 1 (2)
Final Fours, Post-1985 (points)
- Duke: 12 (24)
- UNC: 11 (22)
- Kansas: 9 (18)
- Kentucky: 8 (16)
- Michigan State: 7 (14)
- UConn: 5 (10)
- Michigan: 5 (10)
- Syracuse: 5 (10)
- Florida: 5 (10)
- Louisville: 4 (8)
- UCLA: 4 (8)
- Arizona: 4 (8)
- Villanova: 4 (8)
- Indiana: 3 (6)
- Ohio State: 3 (6)
- Cincinnati: 1 (2)
Championships, Post-1985 (points)
- Duke: 5 (20)
- UConn: 4 (16)
- UNC: 4 (16)
- Kentucky: 3 (12)
- Kansas: 2 (8)
- Louisville: 2 (8)
- Villanova: 2 (8)
- Florida: 2 (8)
- UCLA: 1 (4)
- Indiana: 1 (4)
- Arizona: 1 (4)
- Michigan State: 1 (4)
- Michigan: 1 (4)
- Syracuse: 1 (4)
Total
- UNC: 51 points
- Duke: 48 points
- Kentucky: 47 points
- UCLA: 46 points
- Kansas: 34 points
- UConn: 26 points
- Louisville: 24 points
- Michigan State: 22 points
- Indiana: 19 points
- Villanova: 18 points
- Florida: 18 points
- Michigan: 17 points
- Ohio State: 16 points
- Syracuse: 15 points
- Arizona: 12 points
- NC State: 8 points
- Cincinnati: 7 points