I agree with most of this. In the B1G, I think Ohio St and Penn St have the best chances of consistently competing for a football championship. Why? They have fertile natural recruiting territories, really good coaches, as well as great fan support. When Penn St is back to form, and they will be under Franklin and with sanctions rolling off, all this talk of the B1G being a weak conference will subside. There is no real decline of the B1G as only Ohio St and Michigan were ever national powers in the modern era (pre-Penn St and Nebraska).
I think it will be hard, even with great fan support, for Nebraska and Michigan to be consistent contenders. Nebraska's past football history is almost impossible to replicate. They really never had natural advantages like proximity to recruits or an attractive location, which makes what Nebraska did in the past so extraordinary. Michigan has to grab recruits from outside of Michigan which puts them at a disadvantage. With the right coach, they can be consistently good, but I think they will have a hard time competing for football championships. Still, Nebraska and Michigan are two upper echelon football programs.
In the ACC, I really only see Florida St being a consistent contender. I's skeptical that Miami can get back to their glory days, although the fertile recruiting around Miami makes it a possibility. I just think that Miami will not return to the "good old days" and run an undisciplined program, especially under Donna Shalala. The main driver for Miami going to the ACC was to take the pressure off the football team having to win.