UConn to the B1G won't put the B12 out of business, but it will make it much more difficult to develop a larger platform and presumably more revenue in future tv/media rights. We're the best chip left if you can get over the distance issue. There is no other low hanging fruit but for Boise State, Cincy, BYI, Memphis, USF and UC, all of which have real limitations when you look at all the measurements and particularly with respect to adding to the tv platform today (Florida has great long term projections).
Furthermore, an ACCtv deal which seals in Clemson and FSU would leave the B12 with only weak aforementioned cards to play.
Yes, the B12 will survive, but the growing revenue gap will create paranoia (permanent instability) and some real disadvantages.
I think Texas will make the B12 wait until the ACCtv is decided. I'm hanging my hat on the carwash pipedream for a ticket out of here in June. Someone makes a move - but I no longer think it will be the B12.