Notre Dame will die on the vine as an independent, and that's okay with me.
Given the TV dollars available for just about every other BCS conference, Notre Dame is not in a financially advantageous position anymore. They also can't play the "every game is on TV" card. Everyone has cable, and between ESPN2, ESPNU, ESPN Classic, CBS College Sports, Versus and the Fox Channels, every major program is on TV each week....and if you miss the game, chances are it will be replayed at least twice the following week.
It's a much tougher rebuilding job than most realize, their facilities are garbage, and other than Ohio State, most of the elite national programs are located in warmer climates. Their endowment is still ridiculous, but you have to wonder just how big of an emphasis the school will place on football going forward. Stanford has a ridiculous endowment too.
I think Notre Dame is making a big mistake by remaining indy, and they are hypocrites for siphoning off the Big East's basketball revenue. They already play Purdue, Michigan and Michigan State every year, and until the NCAA grows a pair and drops the hammer on Southern Cal (unlikely), Notre Dame won't beat the Trojans consistently anytime soon.