I'd much rather be in the Big East (purely from a basketball standpoint). For this season, at least, the AAC might have a little more depth at the top (SMU, Louisville, Cincinnati, and Memphis are all ranked), but not by much - Nova and Creighton are arguably better than any of the four teams I just mentioned, and aside from those two, there are four other Big East teams (Xavier, Providence, Georgetown, St. John's) with a decent shot at dancing. Even if you compare the top four in each conference - Nova, Creighton, Xavier, Providence in the BE, Cincy, Louisville, SMU, Memphis in the AAC - I believe they're comparable. Villanova is probably a little better than Cincinnati, Louisville and Creighton are roughly equal, SMU is slightly better than Xavier, and Memphis is better than Providence. Would it change our RPI/BPI much if we played those four teams twice this year rather than the ones we've already played? Probably not. The biggest difference is that the games we play against teams in the bottom half of the conference - Houston, South Florida, Central Florida - are glorified exhibitions most of the time. I know Georgetown and Marquette are down this year, but those programs at least resonate with the fans and players. Playing St. John's, Seton Hall, and Providence - all manageable road trips for people in the northeast - is obviously far more appealing as well for obvious reasons.
What worries me the most about the AAC, though, is that this might be the best the conference ever gets. Everything sort of broke perfectly this year - with Cincinnati and Memphis both having strong teams, SMU kind of pulling a horseshoe out of their a** with a HOF coach, and Louisville being held over for a year - and it seems likely it will take a sizable step back next season, even with Temple hopefully re-gaining some level of competency.
And as ace said, the Big East is lapping the AAC on the recruiting trail. Both conferences are probably doomed in the long haul, but with the Big East, at least there's a foundation there of programs with history, solid fan bases, and good coaches. It makes much more sense geographically than the AAC, also, and the fact that they appear to be keeping the league under 12 teams (for now, anyway) lends itself to a round robin format which I've always liked.