UPDATE:It's official, Memphis to Big East beginning in 13'-14'. Officials from both the Big East and the University of Memphis have confirmed that the Tigers will be joining the conference in all sports beginning in 2013. An official announcement is expected to come tomorrow.
Significance? Well, if this plan was in place last year UAB and/or Memphis very well might have made the Tournament. I love the 64 team format and hated the "play-in game." Now, it looks like there will be play in games with the winners playing the #1 seed in each bracket. With C-USA constantly battling to get a second team in, I think this might work in the league's favor down the road.