The BCS is adding a 5th Bowl game and two more at-large teams, while the Big East retains its automatic bid to the BCS.
That is quite a relief, considering how the football conference will likely suck ass in the near future.

This also means Pitt will have a legitimate shot at a BCS bowl every year, and won’t have to rely on Miami or VaTech having an off season to make the big time – and the big money.
The uncertainty of the BCS’s relationship to the Big East no doubt contributed to the defection of two of Pitt’s top football recruits, Anthony Morelli to Penn State and Andrew Johnson to PSU (a third defected to USF, a new Big East football member).

This likely prevents any current Big East football member from seeking BigTen membership.

It also elevates new in-conference foe USF significantly, which could hurt Pitt’s recruiting in Florida (I guess Cincinnati and Louiville benefit as well, but they never had as much to gain as USF). That’s still worth it, in my opinion.
Why does USF gain? Because they went from a nothing conference to a BCS conference. They now can look down their noses at UCF up in Orlando since they are still in a nothing conference. They can also say to in-state recruits that Miami, FSU and Florida are all in the same system they are (the BCS) – and the kids actually have an easier path to the dance by coming to USF.

Pitt, Syracuse, WVU (and Rutgers and UConn, I guess) all hang on to BCS status. This allows them to stop the bleeding caused by the loss of VaTech, Miami and BC. And it means the best basketball conference in the nation, the Big East, stays together for the forseeable future. Rock on!