I work at UC and the transition from 20 years ago is amazing. They have thrown a ton of money at facilities, academics and athletics. I think the academic profile/image has changed dramatically. If they get to the BigXII it will change the athletic profile to Big Time. If they don't get the Big invite, at least the academic and facilities side has improved tremendously. Athletics on the other hand will have thrown a boatload of money down the toilet for nothing much.
Go bobcats!
It has changed a lot. I went to a lot of basketball games with my Dad and neighbor in the 90's, and its night and day now. I think the facilities upgrades will be great regardless of affiliation. As long as they win, and get people in the doors, those upgraded stadium and arena will ultimately pay for itself in drastically increased revenue.