So you could have a league that looks as such:
Better footprint for travel cost concerns
All private schools with similar structures
All non-FBS or top tier FBS football
Losing existing eastern markets (A10 schools) for recruiting
Loss of some traditional regional opponents
Since this is similar to my idea, I'll comment on this. I do think that the lure of eastern markets will keep Dayton, Xavier, and St. Louis in an eastern conference. St. Louis would love to be with DePaul and Marquette again, but I don't see that happening easily. The MVC is stable as is, and even though this conference gives some new markets I don't see those 4 MVC schools wanting to leave their current home. Butler and Detroit would probably both like this arrangement, maybe Loyola Chicago as well. I think that Butler is a likely school to get invited to join either the current A-10 or MVC.
Another con with this arrangement as with mine, no autobid unless the NCAA changes its tone on new conferences forming.