I would much rather take a chance with another mid-major/assistant coach. Just because it hasn't worked for us these last 2 times, doesn't mean it won't the next one.
If I remember right, Lute Olson came from Long Beach State. Wasn't KF's only head coaching experience Maine? Just saying.....it's human nature we only remember the bad and not the good. You could also make the case with Fry coming from SMU.
I'm pretty sure UT and Wisconsin are pretty happy they hired mid-major coaches...Pearl and Ryan have worked out o.k.