BYU certainly has the equipment to stay independent
New BYU broadcast center, OB truck make full HD available around the globe
From what I've seen, they're still going to be challenged to schedule a Big 12/Pac12/SEC/BIG caliber schedule every year.
Notre Dame has the tradition and media coverage to basically schedule a Big Ten type schedule without being a member.
I think this year's schedule is as strong as they're likely to get, it's good, but not quite Big 12 or Pac 12 good. They'll have Utah every year like we have Iowa, there's nothing that says they're Texas deal is going to go on forever. I doubt TCU will keep playing them annually as their conference connection fades.
Brigham Young 2011 Schedule - Cougars Home and Away - ESPN
Now if they join the Big 12 and we keep the 9 game schedule, they're in the same position as we are with the Utah game making their schedule a real meat grinder with only two slots to schedule non conf opponents including a home only pay day.
TV wise it's perfect for them to join. They keep all the good from their own network and still cash a much, much bigger Big 12 check.