I still think this WAC in the SWC footprint would suffer a C-USA problem in 2001 (TCU) and 2005 (others).

I’m also a little unsure how former SWC members Rice, SMU, and TCU would feel about sharing a conference, even if it’s just from 1999-2004 with programs like UNT, Ark St, ULL, and/or LA Tech. Rather than hold their nose and accept nearby programs of perceived lower quality, the block of 6 you described might have preferred to bolster the Western wing with adds from the Big West and move to a divisional format. I’m actually quite surprised the real 1999-2004 WAC didn’t go down this avenue:

West: Hawaii, San Jose St, Fresno St, Nevada, Boise St, Utah
East: UTEP, SMU, Tulsa, Rice, LA Tech, Ark St (we’re still presuming TCU leaves in 2001)

This move would also likely killed Sunbelt football in its crib, or at least delayed its start by 4 years.