You have to wonder if Penn State decides it no longer wants to compete against Michigan, Ohio State, Michigan State and a difficult crossover game against the BIG West opponent would consider a jump to the ACC? There path to the college football playoffs would be considerably easier. They can be placed in the Coastal and we could be invited to the Atlantic division. They would have as their chief rival Miami and Virginia tech in their their division.
The simple answer is no. The revenue generated by the conference alone dictates that Penn State will never leave. That said if you go beyond the fields of play the university itself is a far better institutional fit with the programs of The Big 10 (Large academically inclined state schools) than it is with the combination of publics and private schools of varying size and academic quality.
A further examination of the sports that Penn State enjoys great success in and that our fans consistently support through attendance and donations (Wrestling, Hockey, Women's Volleyball) are all greatly benefited by Big 10 Association. It is hard to argue that the four spectator sports that Penn State does not excel in, M/W Basketball and Baseball/Softball would be that much better in The ACC.
Basketball would be about the same. Lower third of the conference(admittedly with more exciting opponents on average). Baseball/softball would both likely remain toward the bottom of either conference. Good players in these Summer time sports primarily head south or west for college. Being in The ACC won't change that. Our programs' struggles in these four sports are more to do with our administration's acceptance of mediocrity in them because they don't run a deficit. They're happy cashing the checks that football provides.
While UConn's most logical end conference remains The ACC, because of its similarities in size, geography, academics, and sporting focus, I remain Pro-B1G Membership for The Huskies. I understand that the usual suspects will shout down the possibility of it ever happening, but with the changing dynamics of broadcasting there may come a time where a school like UConn with its number of quality athletic programs may be deemed more valuable than a school that just happens to be located in a densely populated state with high numbers of cable subscribers. Adding Uconn M/W Basketball, Hockey, Baseball, Soccer, and possibly someday Lacrosse are all programs that might sell subs under a different model. Adding a UConn and lets say Kansas adds a lot to the potential broadcasting rights of the conference from December to Aug without increasing the difficulty for PSU, OSU, and UM to compete for The Playoff from September to November.