Texas has decided to stay put and save the Big 12, which means the Big East is probably safe, for now. I do not think anyone would have predicted this a month ago, but here is where we stand: Colorado is part on an 11-team Pac-10. Nebraska is part of a 12 team Big 10, the Big 12 now has 10 teams and the NCAA as we know it has been given a stay of execution (for now).
Now, none of this means the Big East is going to be around as a football conference in five years, but with Notre Dame and Texas seemingly off the table, the Big 10 is starting to look like it will stand pat, at least for the moment. In addition, despite making noises about Texas A+M, the SEC looks like it will stay at 12 members, which will in turn around the ACC to survive as is, which, finally, brings us to the bottom of the food chain where the Big East stands forgotten and intact.
Long-term, the league is still in a lot of trouble, and the second the Big 10 decides it wants to add to its ranks, you can probably kiss Rutgers and either Pitt of 'Cuse goodbye, along with the Big East. But for now, the Big 10 seems content, which means I am to, because I really do love the Big East, and I'm happy to stay in it.