And it has some solid B-level programs (Colorado, BYU, Utah, Ok State) as well as "sleeping giants" in the AZ schools (even though they've been perpetually sleeping since the late 70s).
A decided step above the MWC but not so top-heavy as to keep BYU from realistically challenging for the top spots, and with enough Texas schools to give BYU's religiousness the cover it needs.
And even though this is a football thread, it's worth mentioning that I think it's the best basketball conference by a long shot.