This is an interesting section from a Yahoo article on Cincinnati:
excerpt:
Cincinnati would be a geographical fit for the Big 12 because the conference has no one located between Iowa State and West Virginia. The Bearcats would bring new television markets into play for the Big 12, though deciphering who a 12th team could be for the conference is a dicier proposition. If the Big 12 gets back to 12 and wants to go back to North and South divisions (without separating Oklahoma and Oklahoma State), a team north of Texas and Oklahoma may be necessary to join with Cincinnati.
http://sports.yahoo.com/blogs/ncaaf-dr-saturday/cincinnati-s-president-has-been-campaigning-for-big-12-move-181030276.html
Many fans of different schools bring up the idea of "north-south" divisions. While its doubtful they would recreate this since it led to disgruntled schools before (i.e. Nebraska and Missouri and Colorado all left)--who could be added in the north to go with WVU, Kansas State, Kansas, Iowa State and Cincinnati to create a semi balance ? (yet another reason its doubtful they would do divisions in that way-it wouldn't be attractive to the tv networks).
I see divisions more like:
Texas--crossovers: OU, TCU, K State
OSU--crossovers: OU, WVU, Uconn
Baylor--crossovers: TCU, Uconn, Kansas State
Texas Tech--crossovers: TCU, Kansas State, Cincinnati
Iowa State--crossovers: WVU, Cincinnati, OU
Kansas--crossovers: Kansas State, Cincinnati, Uconn
OU--crossovers: Texas, OSU, Iowa State
TCU--crossovers: Texas, Baylor, Texas Tech
Kansas State--crossovers: Kansas, Texas Tech, Baylor
WVU--crossovers: OSU, Baylor, Iowa State
Cincinnati--crossovers: Iowa State, Kansas, Texas Tech
UConn--crossovers: Kansas, Baylor, OSU