Problem is, the conference has dwindled considerably since. Bobby Petrino and Brian Kelly, two of the more promising coaches within the conference, left for other jobs, as did the coach of WVU at the time, Rich Rodriguez.
Take away the Big East's automatic BCS bid, and Houston likely receives the bid at-large over WVU.
This has been debated ad-nausem in the Realignment thread, but the Big East is the most ineptly run conference in all of sports with the Big 12 being a close second. I'm halfway surprised the Big East didn't file an injunction preventing WVU from claiming the BCS bid while suing its own conference, but it just goes to show how the Big East doesn't want to lose money by doing so.