Whoever gets left on the outside looking in when the music stops is going to lose alot of money... Baylor seems likely to end up without a home in a BCS conference. It's obvious that they would want to take all available steps to maintain what they have. Most of the other teams would likely end up elsewhere, either in the Big 10, Big East, ACC, PAC 10, or SEC.
Regardless of how this ends up, I can't imagine that schools threatening each other with lawsuits is going to shore up the conference in the long term.