I find it rather funny that the SEC suddenly cares about things like location of the school, population of the state, and TV markets. The vast majority of schools in the SEC are located in barren, sparsely populated sections of the country with limited TV market appeal.
I think the SEC doesn't want to pull the trigger on WVU just yet because they are hoping they can reel in a bigger fish. WVU is their safety net (aka 16th member) if and only if they can't find anybody better.
WVU, UConn and RU are all in similar positions right now. Waiting for the chairs to fill up by other bigger, more powerful and appealing schools, and hope and pray a chair will be left for them when the music stops.
It's been said before, if you could relocated WVU to Jersey or Connecticut, and bump up their academic reputation a bit, they would have been swiped up already.