The fallacy in what you're saying about basketball is that the Big East - what it was - no longer exists. Comparing where we are at now, to the old big east doesn't work. YOu need to compare to what exists - we've earned equal tournament credits as the ACC. With no Big East on top anymore, the only basketball conference that has not elevated itself with that void - is the ACC. The AAC is on equal footing with the ACC when it comes to the NCAA tournament. That's got to really irk some people - but it's reality through the first season of existence. The other 'P5' conferences (I hate that - but it's quicker than typing them all) have all stepped up a bit in basketball because the Big East is no longer there, and the AAC with it's huge bridge top to bottom sits right there in the mix.
The AAC conference in basketball has a large divide between the top and bottom. But once again, establishing the actual level of competition in the sport in any intercollegiate sports (not the fan bases and revenue streams - actual competition level) is about RECRUITING. I think it's clear that the top of the AAC can compete with the best and win. I think that it's a travesty that SMU was kept out of this year's tournament, and UCONN is living proof what being snubbed can do for motivation. Watch out for SMU next year. Louisville is gone, and somebody will need to step up to fill their spot on the top of the standings. There are young coaches, and respected basketball people in this league.
UCONN basketball - without a doubt has done what needed to be done to help this conference grow, and what the guys did this spring, will help bridge that recruiting gap in the conference very quickly - as long as the coaches and adminstrations at each school are able and committed to do it. So far - it seems to be the case.
Football is a different story, but football, will be entering it's first true season as an AAC entity this fall. We'll have a lot more to go on in a year from now - but so far it's a good start. UCF represented well (on the field) - as did the rest of the programs already in and coming. (We sucked - but we'll change that)
Last year it was AAC in name only, operating under the last year of the Big East contracts.