As much as I think a P5 conference would have been better for BYU and Utah getting into the Pac-12 has been HUGE gain for them, I still prefer Indy to MWC.

Let's imagine we are in the MWC mountain division:
The good: We will play Utah State and Boise State every year. We also will get a conf championship game and possible Las Vegas bowl appearance against a P12 team, outside chance of NY6 through automatic G5, (Slight chance at a NY6 bowl, but if we were truly good enough to go NY6, the auto G5 bid is not necessary)

The bad: Playing Home-Home every single year against Wyoming, UNM, CSU, UNLV, San Jose, and Nevada. We would be obligated to play 8-9 conference games a year, of which 4-7 of them would mean nothing to me, and against teams I would rather not play on a yearly basis, like do we really want to play UNM, Wyoming, and CSU every year? With indepence I am generally excited about 7-9 games a season on our schedule, and even teh less exciting games are fresh new faces. back in the MWC with Utah/TCU. I was excited about 3-4 games a season, 5 with a bowl game.

The ugly: We will lose over 10 million dollars a year, TV visibility will go to squat, and we will be back to the good old MWC days were the broadcast quality of the football games was horrible and the limited media coverage. That and I actually get to watch BYU basketball far more often now than I did before.