None of this new conference stuff will start until at least 2012.
Notre Dame and Swarbrick will most likely hold off and not panic.
I think the scenario will play out like this:
The Big Ten will stay at 12 or possibly go to 14. If they do this, we will wait and see what happens. Our schedules in 2012 and 2013 are plenty competitive so there shouldn't be any problems.
But, if the Big Ten adds more than 14 teams, and grabs a 15th team sometime here in the near future, we may want to finally join.
Still, I think we're going to ride out our independence until 2013 and see if we can pull it off. Even if the Big Ten adds 5 teams rather quickly here, we may be able to jump to the ACC. That would be a nice move, unless the SEC steals FSU, Miami and Virginia Tech.
We're still in wait and see mode though.