Two things... its not necessarily a done deal yet (but sure is close).
First Miami will only go with BC and Syracuse. But Virginia, when casting their vote in favor of expansion requested Virginia Tech instead of BC. (Virginia did this under pressure from the state government which threatened to slash funding to UVa; if the ACC killed off the Big East without invited Virgina Tech)
Secondly Miami has agreed to at least listen to the Big East's last ditch offer to keep them. Who knows what they'll pull out; but its expected to be some sort of compromise where the Big East may purge itself of the non-Football Teams in its conference while possibly adding a couple of other teams. Unfortunately short of a major team joining the Big East (While Notre Dame and Penn State were mentioned those are of course just pipe dreams); I'm guessing whatever offer they make will not be enough.
Which for me makes this a sad day. As a Big East fan, I would argue that even if Miami had left, if it were only Miami the Big East would still be as strong and possibly stronger then the ACC in football still, which IMO is why Miami insisted that Syracuse and BC come too. As a byproduct this will also kill off one of the top conferences in College Hoops (horribly underrated IMO); and bastardize the great tradition of ACC hoops (no more twice annual meetings with UMd and Duke, etc.).
What I'm guessing will happen is the Big East will survive in some weakened form. The basketball only members will probably be cast aside left to form their own conference, perhaps raiding some A-10 teams (Maybe a Notre Dame, St. John's, Providence, Villanova, Seton Hall, Georgetown, Xavier, Dayton type conference?); the Football members will raid C-USA to keep their numbers highenough to exist: UConn, Temple (member in all sports), Rutgers, BC/Va. Tech, Pitt, West Virginia, Lousiville, South Florida/Central Florida (they want the Florida recruiting base), and possibly Cincinnati or a Marshall (helping either the hoops or football league).
Pitt will probably hear from the Big Ten; although I've heard some say that Paterno at Penn State would be dead set against Pitt joining (and other rumors that Penn State wanted out of the Big Ten). If Va. Tech doesn't go to the ACC I'd assume they'd hear offers from several conferences, but unfortunately only a revamped Big East would make a lot of sense for them geographically.
My Pipe Dream (fantasy land) if Miami left taking 'Cuse and Va. Tech would be for the Big East football to survive as:
UConn, BC, Pitt, West Virginia, Rutgers, Notre Dame, Penn State, Temple, and one team from Louisville, Marshall, Cincinnati type group.... but this of course will NOT happen and the Big East is as good as dead.
