a great thing. I would also agree that BYU is a GREAT place for an overall undergraduate education. They are on par or better than many of the current PAC12 schools in that regard. To answer your question about why they overlook undergrad research is because it doesn't bring in nearly as much money and as many publications as graduate research and research done by PhD faculty.
Don't tell anyone, but I also think it would have been fun to have BYU and Utah both in the PAC12. Either way, I think that BYU is going to end up in the Big12 within the next decade, which will make for some interesting times for football in the state of Utah.