IMO this is a bad idea.
What you are effectively doing is making it more difficult to schedule OOC games against Big Name non Pac 12 BCS teams as you're already locked into an OOC away game each other year. Which will have a negative effect on recruiting the south and south east regions for the conference.
Plus the Big Ten is already regarded as too much of a mid-west centric conference why make that stereotype even more engrained? - Expecially if it makes it tougher for certain teams to continue playing other traditional OOC opponents, IE Notre Dame, Pitt etc.
Also probably inflames the whole Penn State resentments of not being Eastern leaning enough.
Not to mention the timezone issues and the fact that noone cares about Pac 12 football outside of the Pac 12 aside from the Rose Bowl game.
FAR too many negatives and not anywhere near enough positives IMO. If Big Ten teams want to schedule series with Pac 12 teams they can do that without the league mandating they do it.
I don't see it as a bad thing, having Colorado (the most likely choice for NU) replace South Dakota State (and the like) is a good thing. He's also saying that they may not go to a 9 game conference schedule so NU would still get to play to creampuffs. Colorado will just replace the lower division teams like Wake Forest and then we keep the Tennessee's, Miami's, and Oklahoma's (ok, I'm dreaming there) as our marque OOC game. But even if they go to the 9 game schedule, NU will be ok if we are as good as we all hope we will be by that time. I have no problem with a cream puff, CU and a OU type OOC every year.
The problem with your post is that the Pac 12 game in many years would most likely replace the Tennesee's and Miami's not the South Dakota States because of scheduling issues.
For financial stability Nebraska's athletic department requires a MINIMUM of 7 home games a year. As does pretty much every other program.
With an 8 game conference slate that means you are guaranteed 4 conference home games with 4 conference road games each year.
So Nebraska schedules one big OOC game every year and can be flexible with when that road game takes place because one OOC game still lets them have 7 home games every year and up to 8 home games every other year.
If you add a Pac 12 team to the mix you've now got 5 guaranteed road games every other season. (4 conference and 1 OOC)
That severely limits your other big name OOC potential matchups because now you are no longer flexible on when that road game takes place.
Put it this way -
This starts in 2017. We have 3 OOC home games scheduled that year and already are scheduled to visit Tennesee in 2018. That means we MUST host the first Pac 12 game in 2017 to maintain the 7 home game financial need in 2018.
Then whatever 2019 OOC game we schedule if we were to schedule a home/home series with another BCS team would also have to be played in that team's stadium because the 2nd game in 2020 can't be on the road because we have to go to Boulder again (or whatever Pac 12 team it is).
11 other Pac 12/Big Ten teams will also be in the same predicament. So that is a lot of teams all needing to have very specific scheduling dates and that doesn't count the fact that those other leagues need home/away dates filled too.
So now you're setting up a system where the demand for BCS opponents with the right home/away setup starts to outweigh the supply and you'll be seeing a lot more of what we just saw last year with a P12 team and 3 cupcakes OOC.
And that's IF they do home/home series with the Big 10 and Pac 12 games. If they do the proposed neutral site matchups then count on never playing other BCS OOC games because now you're guaranteed to always be playing 3 cupcake OOC games to hit that 7 home game mark and have no possibility of the ocassional 8th game of extra revenue.