I wrote about UConn's schedule before the PC offer, so my reaction to this has little to do with my distaste for PC. I say no. Why? If I'm reading the CBS deal right, UConn might find itself playing at least 2 games on network per year. Since only home games count for network (unless that game is against another CBS conference team), then this means UConn needs to schedule 4 home-and-homes each and every year against top competition in addition to the 2 or so games in Xmas type tourneys. That's 6 tough OOC games a year. PC doesn't qualify as top competition.
So, the only way I'd play PC is if I'm reading things wrong about the state of UConn's schedule.
If UConn is not going to be afforded network coverage for those games, then by all means schedule PC (though of course I'd prefer St. John's).
That being said, I think UConn's dance card is going to be filled by much more enticing competition than PC.