I don't think you could be sitting any better than you are right now. Worst case scenario is a full merger with the PAC (which includes you) or you cherry-pick. Personally, I would get aggressive and cherry-pick forcing the issue because Oregon (possibly Washington) is going to fight a merger as they are fighting to get in the B1G or SEC.
The Big 12 all of the sudden goes from an AAC look-alike to closing on the ACC for 3rd best conference and at least a temporary say in the playoff situation.
I hope you guys get Utah, Colorado, Arizona, Arizona State, Washington and Oregon because that changes everything. It doesn't replace OU and Texas but it gives you some big games to market:
Utah vs BYU
Washington vs Oregon
Arizona vs ASU