You just answered part of the question about JMU and FBS - research. JMU is, despite having Master's and PhD level degrees, an undergraduate institution. Staying focused at that level has earned JMU's accolades for years, whereas competing nationally for research grants with the likes of the Ivy League, ACC schools, other highly regarded (and well-endowed) private schools would be swimming against the current. I think this also makes JMU, an otherwise fantastic addition to a conference, a potential liability in terms of fit among FBS conferences.

Pres. Alger does seem to want to raise that profile to something less regional, more national, but it is moving at a slow pace IMO relative to the changing college landscape. I just wish the admin would see that connection between sports and academics, but my distant impression is that faculty (Longhorn aside) are generally opposed to FBS due to the resources it will consume/take away from the academics (not looking at the potential windfall for the school and how the faculty might benefit).