I'm as big as SU fan as anyone, but its my opinion that is SU is on the elite bubble. We are the first tier of schools outside elite. Why? Take a look at that SU Nike Promo, the caption being, "its time for a 10 year reunion". Elite teams make a final four more than once a decade.
1987
1996 (9 years)
2003 (7 years)
Maybe 2013??? (10 years??)
Elite:
UK
1975, 1978, 1984, 1993, 1996, 1997, 1998, 2011, 2012
Mich State
1979, 1999, 2000, 2001, 2005, 2009, 2010
Duke
1978, 1986, 1988, 1989, 1990, 1991, 1992, 1994, 1999, 2001, 2004, 2010
UNC
1972, 1977, 1981, 1982, 1991, 1993, 1995, 1997, 1998, 2000, 2005, 2008, 2009
KU
1974, 1986, 1988, 1991, 1993, 2002, 2003, 2008, 2012
I love JB and SU, but honestly without the orange glasses on, we are on the bubble of being a blue blood