I'm not really a fan. While I love the thought of playing Nebraska and MD (I live in MD), I miss the old big east with Miami, VT and BC.
I think "thinner" conferences produced more parity which is good unless it is forced by rule changes (IMO).
The SEC is going to be really tough to conquer for long periods of time because the Big12 is no longer a real threat annually, the Big East is gone (Miami was always a threat from the BE).
I love college football, and the change hasn't slowed it one bit, but I do miss some of the old rivalries.
Rivalries take time, sometimes decades to foster, breaking them takes months.