Assuming that none of these teams abandon ship (that's assuming a lot) it's not a bad core of teams. WVU is the flagship football program for the Big East, while the rest should stay competitive. Cincy, UConn, and Louisville have all been to BCS games, and South Florida and Rutgers have been NFL-producing machines. Again, could certainly be worse.
I'm not a fan of bringing in the service academies. They have a good following, and are outstanding universities. However, going 6-6 every year with the best win being over Southern Miss just isn't really making you jump for joy. And, it does nothing for recruiting. In regards to UCF, I'm always a go for a Florida team. Plus, it would make for a solid rivalry for South Florida. Temple has really improved things since getting dumped from the Big East a few years back. And, the Philadelphia market is there for the taking.
I'm intrigued by Houston and SMU. The recruiting pipeline could always use Texas, and the Houston and Dallas markets would be solid. Both schools bring a fun version of football to the table, and could contain a level of competitiveness needed to keep AQ status. Memphis has been dying to get into the Big East since Louisville came in. Not a bad market, horrible football program...needs to improve. I'm mixed on Nova. If the conference was in better shape, then absolutely. However, this is a football program that is not sold on moving to the FBS level. The last thing the Big East needs is more insecurity. ECU has already applied to the Big East, just not sure if the conference cares.
The Long Shots:
The Broncos are the newest sexy pick for football-only. There is no denying the success that Boise has had recently. This team is constantly in the Top-10, and have a few BCS wins to their name. However, travel will be a killer. It's over 2,600 miles to get from Boise to Tampa. There would only be a few trips a year if they were football-only, but it's still a lot on the old budget. JMU is interesting. Their fanbase is already better than some in the FBS. They are also playing WVU next year at FedEx Field. This is a school that may be making the move to the FBS soon.
The Not Ever Going to Happen:
Let it go folks, it's not going to happen...ever...ever.
The Projected Big East:
This is entirely a guess. I think Air Force is the only academy that is interested. Army and Navy will continue to roll strong as independents. ECU and UCF will finally get their wish of being in the conference. To me, Houston and Memphis are easy targets. Two schools that have a lot going for them (primarily markets), probably would drop C-USA in a second. And, Temple would welcome the Big East back. It's not a horrible conference, but certainly leaves something to be desired.