The argument given was that MWC might be able to crash the BCS party and become an automatic qualifer (if the conference could produce consistent winners who are top 15, etc.) TCU had a good six year run and appeared to strengthen the conference's FB membership.
The problem for all parties is that there is no assurance that TCU would be able to sustain nine to ten win seasons, whether in MWC or not. Without this type of performance, the deal looks bad for everyone. Hubris is the only word that comes to mind.
Lastly, many (including me) say the Big East doesn't deserve an automatic bid either with the departure of VA Tech, Miami and BC to the ACC. The addition of Louisville helps (Cincinnati and So. FL do not), but it doesn't change the fact that BE is not Big Ten, SEC, Big XII, Pac 10 or ACC caliber and shouldn't be given an automatic bid. It looks like a four loss Pittsburgh gets to go to BCS Fiesta for God sake.
Therefore, the MWC will never qualify (and the reason to pick TCU is even weaker). For that matter, the BE should be displaced, leaving only five automatic qualifying conferences.
This permits greater flexibility to assure the second best BCS conference teams with great results (such as Texas and Cal this year) into the bowls, while still supporting multiple non-BCS over-achievers such as Utah, Boise State and Louisville in 2004.
Or, we get a play-off (opposed by College Presidents)
