I don’t know if UNM would want to play UTEP every year. In basketball, I am good with that happening. Don’t care for it in football.As an Alum of both schools, NMSU and UTEP being in the same conference is a dream come true.
TBH your "cons" can easily be spun as pros. Freeing up 2 OOC games in hoops gives both schools an opportunity to schedule either more lucrative/tougher games to build a resume, or soften the schedule to build confidence. When both schools play each other twice OOC, it never fails that one school is better than the other and for the team that's looking for the post season, those two games that were split or even won can drag down the RPI and SOS. Even in a single bid league, this sort of thing matters for seeding. It's rare over the last 30 years for both teams to be successful at the same time. Opening up an OOC game in football/hoops likely means UTEP can schedule UNM every season as well, which to me is a must for the Rio Grande rivalry.
The TBD is a non issue. UTEP I think will always have priority over NMSU in a potential MWC invite scenario. Even if NMSU manages to build some sort of football success, I think UTEPs greater share of the media market takes priority. Ideally though, if the Big 12 ever plucks Boise or SDSU, both NMSU and UTEP would hopefully get a callup.
Well EP and LC “share” the same market. So I believe that the MWC would take the stronger program of the two.