(big) East Division
Atlantic (coast) Division
With this set up, you reunite most of the former Big East members in one division. Miami gets to play near their northern alumni. The (overblown) travel costs are somewhat mitigated. Maryland -- the long-time whiner about Tobacco Road's influence -- gets to play the conference newbies. The ACC purests get their own division. The only real loser in this setup is UVA. They have historical ties with most of the ACC. Lumping them in with the old Big East would diminish that. But if you assured UVA their annual game with UNC, they might be on board.
While competitive balance is hard to predict, this split captures current strengths and programs that have inherent historical advantages.
This seems so simple, it probably won't happen. But as I mentioned previously BC's future schedules will have a very familiar feel to them.