Rumor has it that the Pac-10 will invite Texas, Texas A&M, Texas Tech, Oklahoma, Oklahoma State, and Colorado to join.
This would create a super conference that rivals the SEC in terms of quality, but where would it put Arizona State and Arizona? Squarely on the bottom rung.
All six of those programs that would be invited are of the highest caliber (save for Colorado, but it is a work in progress and has historically been good).
ASU and UA would be in an "East" division with these other six teams, leaving the original Pac-8 to their own devices. We would suffer immensely for a few years, but a lot of Texas talent would come out west to get the chance to play against UT, UTAM and TT.
It's all in how you look at it: neither Arizona or Arizona State are any good, so a change of competition might turn the tide on recruiting and national significance.