I don't think regionalization is a bad thing. As I've said before, talent for all sports is regionalized to some degree which has a bearing on championships, NCAA playoff bids, and perception.

I would prefer smaller conferences, but more conferences. Something like:

PAC
West: Washington, Oregon, California, Stanford, USC, UCLA
East: Arizona, Arizona St, Utah, Colorado, Texas, Texas Tech

B1G
West: Oklahoma, Kansas, Nebraska, Missouri, Iowa, Illinois
East: Minnesota, Wisconsin, Indiana, Michigan, Michigan St, Ohio St

SEC
West: Oklahoma St, Texas A&M, Arkansas, LSU, Mississippi, Mississippi St
East: Alabama, Auburn, Kentucky, Tennessee, Georgia, Florida

ACC
Atlantic: Miami, Georgia Tech, South Carolina, North Carolina St, Maryland, Penn St
Coastal: Florida St, Clemson, North Carolina, Duke, Virginia, Virginia Tech

Big East
West: Wake Forest, Vanderbilt, Louisville, Iowa St, Northwestern, Purdue
East: Notre Dame, West Virginia, Pittsburgh, Rutgers, Syracuse, Boston College

XII
West: Washington St, Oregon St, Boise St, BYU, UNLV, San Diego St
East: Colorado St, Air Force, New Mexico, Baylor, TCU, Kansas St

AAC
West: Tulsa, SMU, Houston, Tulane, Memphis, Navy
East: Central Florida, South Florida, East Carolina, Cincinnati, Temple, Connecticut

CUSA
West: Arkansas St, Southern Miss, UAB, Middle Tennessee St, Western Kentucky, Florida International
East: Massachusetts, Army, Marshall, Old Dominion, Charlotte, Florida Atlantic

MWC
West: Hawaii, San Jose St, Fresno St, Nevada, Utah St, Wyoming
East: New Mexico St, UTEP, UTSA, North Texas, Rice, Louisiana Tech

MAC
West: Northern Illinois, Ball St, Western Michigan, Central Michigan, Eastern Michigan, Toledo
East: Bowling Green St, Ohio, Miami OH, Akron, Kent St, Buffalo

SBC
West: Texas St, UL Lafayette, UL Monroe, South Alabama, Troy
East: Georgia St, Georgia Southern, Coastal Carolina, Appalachian St, Liberty