Here's my two cents on the argument of TCU in a real conference - the reasons TCU has success.
It'd be one thing to have one or two hifalutin' all-stars running the show in Ft. Worth, like in the days of LT. wins because of superior talent concentrated in a small number of players would be one thing, and I'm confident that if TCU won so consistently based on that then they would certainly get crushed in an SEC/Big XII schedule. Being a bigger/better fish in the WAC doesn't matter when everyone is big and scary too.
TCU wins games because of depth (particularly against us this year, I was there to watch). Their whole front seven is 2-deep at least with consistently impressive athletes. They have a QB who isn't asked to be a TIm Tebow, he just runs the offense. Their skill position guys are all-conference in a lousy conference, but none are All-American.
The point is, personnel depth is the only way to survive a grueling schedule, and they have it. I believe that at least partially refutes the "You have to bring it every week" and "you have to survive the meatgrinder schedule" argument.
That said, screw them. Go Ponies.