KU has the most to lose in this situation and trust me, officials there are worried.
I have said to a number of people that KU needs to be pro-active and try to get into the ACC to create the nation's premier basketball conference. It looks like there will be a big group of schools from the B12 leaving for the Pac 10 and we'll add a couple of teams as well. That will leave KU and a few bottom feeders: KSU, ISU and Baylor. That is bad bad bad for KU. They risk sitting in a conference with those three B12 schools and adding teams like SMU, TCU, Houston, Memphis, UAB, etc. That would be bad news for KU in sports, academic reputation, brand, etc.
If they can get hooked up with the ACC (I suppose they'll have to drag KSU with them) then the ACC will be the best basketball conference in the nation regardless of how the B10/P10, etc. shakes out. A conference tournament with three of the top five programs in the nation in addition to Maryland (assuming they stay), Wake, etc. is a power basketball conference.
KU's problem is it's average football program, lack of major media market and lack of overall sports, in addition to it not offering academic prestiege of a Texas type of addition.
Lew Perkins is a schrewd businessman, but his biggest challenge to date will be to ensure KU isn't in a glorified mid-major conference.
Go Gophers!!