Our goal should be to move up in conference. We wont compete for a national championship, but we would have higher TV revenue, and playing big names on TV would help a lot with recruiting which would make us more relevant. FBS is splitting between the "haves" and the have-nots." The MAC is clearly a have-not conference. We are barely spoken about and our TV revenue/athletic expenditures show it. You want bigger and better facilities? A better conference would help pay for that.
As far as basketball, being in a multi bid conference would help us get quality conference opponents. We are struggling to fill our OOC schedule because no one wants to play us. We also would have a much easier time making the tournament than only by having to win the conference tournament. Recruiting would also be boosted just by being in a P5, as would basketball.
I am surprised buffalo hasn't been mentioned at all either. I hope we move up sooner rather then later or we will end up further behind.