mopkins
King Kong
The committee doesn't really care about conference record. It's pretty much how many top-50 wins you have and your RPI and to some extent how many bad losses you have (though it doesn't really seem like they give as much of a **** about this as they should, if they valued this we'd be a lock already because even Purdue and Illinois probably wouldn't qualify as terrible losses)
Got this off the interwebs:
In the six major conferences (ACC, Big East, Big Ten, Big XII, SEC, Pac Ten) and even the second-tier conferences (Atlantic 10, Conference USA, Mountain West, WAC), a team's record in conference play is one the most important indicators as to whether or not the team will be invited to the "Big Dance." Rarely will the NCAA Selection Committee invite a team that finishes below .500 in regular season conference play. It is also rare for the Committee to bypass a team in the league standings (or division within a league) to invite another team that finished lower in the standings. Since 1996, the only time that a team in one of the six major conferences was bypassed was in 1998 when Florida State (6-10 in ACC play) was invited and 7-9 Wake Forest was not. This was also the only time since 1996 that a team who finished four games below .500 in conference play received an at-large bid to the NCAA Tournament.
Moreover, only six times in eight years has a team finished below .500 and been invited. Needless to say, there seems to be a severe conference bias where the NCAA Tournament is concerned.