I've asked this before but what exactly does this do for FSU? Does the ACC have a research arm like the B1G with the CIC? Until someone can verify that a move to the Big XII would be detrimental to FSU academics I'm going to assume that a move to the Big XII is based upon money. More money get's FSU to jump...
On the topic of conference academic strength; the Big XII does not have a research conglomerate like the B1G (CIC). We don't really need one with glorified JC's like TTU and WVU in the conference BUT Iowa State is still able to partner with top tier research institutions. I personally know of engineering partnerships between ISU & Wisconsin and ISU & Illinois. I'm assuming there are others that I can't personally vouch for.
Yes, the ACC blows the Big XII out of the academic water but FSU's proximity to other ACC institutions could presumably help them get partnerships with them regardless of where their football team plays it's games.
1. You're right that faculty can collaborate with anyone they choose, regardless of athletic conference. Iowa faculty have partnerships with their counterparts at UNC, Virginia, Harvard, Cal, etc., etc. But, consortia like CIC make all of that work easier by cutting out a lot of the bureaucratic/funding red tape that can go with inter-university partnerships. They also increase the university's resources by a factor of 11: you basically get access to eleven other library systems, eleven other study abroad programs, etc., etc.
The ACC does have something like this:
ACCIAC
and there's no way the faculty would approve a move from formally sharing resources with the likes of Duke and Virginia to either no research consortium at all or a newly formed one with Oklahoma State and Kansas State.
2. The other issue with academics is the way schools in the same conference race to the bottom with admissions standards. You can enter a conference saying you're going to keep your same standards and not oversign, but the first year you lose a bunch of recruits to a rival in your conference and end up in the bottom of the league, the entire university will be under enormous pressure to lower their admissions standards.
Now, has FSU been the model for rigorous admissions for football players? No, but there's no way their faculty is going to approve something that leads them even further down that road. I do get the sense that they are trying to put the excesses of the 90s behind them.
3. Travel and revenue-- their president is spot on when he says that any extra money they make from a larger television contract is going to be given back with more travel expenses. They have a lot of teams-- 8 for men, 10 for women. As an AD, do you want to trade your basketball team's yearly road trips to Miami and Atlanta for trips to Lawrence and Ames? And what's your hit in terms of revenue when you swap your home games with Duke and North Carolina for ones with Texas Tech and Kansas State?