The Big East has 10 teams that rank in the top 40. The next closest is the Big 10 with 7. In third place is the Big 12 with 6 teams.

http://daresler.net/info/top/basketball-programs/

The Big East also has 16 teams.

The ACC has 12. The Big Ten has eleven.

If you add them together, and divide these figures by the number of championships each conference has within each of the 5 categories in the Street and Smith criteria, you get the following figures:

Big East 112 / 264 / 339 / 92 / 112
ACC 143 / 289 / 403 / 101 / 221
Big Ten 151 / 291 / 412 / 105 / 192

So if you take these figures and divide them by the number of teams in each conference at the time of the original Street and Smith survey, you arrive at the following statistics for the first 5 teams in the data:

Big East .031 / .044 / .051 / .10 / .183
ACC .027 / .025 / .044 / .91 / .642
Big Ten .072 / .92 / .051 / .044 / .021

The 2nd figure would be consistent with both Connecticut (albeit during the mid 80's to late 80's period) and Purdue (the early 90's). The ACC figures suggest an uneven accumulation at the UNC-Duke level but it takes into account Wake in the early 90's and Georgia Tech.

I think it's pretty easy to tell from these figures that the ACC is equivalent in some categories in the data while the Big Ten shows a reverse drop toward the later years, although the Big East is strongest during the last half of the data. But because the standardized mean difference from the Big East may account for the standard score, the equivalent variable indicator is the effect for the other two conferences. For example, the data for Indiana and Illinois can be performed on different scales, because of their time in the conference which is not demonstrated here. (The Street and Smith data isn't helpful here so we have to go on time-in-conference.)

I came up with this:

Big East: Georgetown .002 / Connecticut .052 / Syracuse .081 / Seton Hall .112
ACC North Carolina .032 / Duke .043 / Clemson .022 / NC State .027
Big Ten Illinois .072 / Michigan .032 / Michigan State .112 / Purdue .126

Just for the heck of it, I did the SEC and found the same pattern:
SEC Florida .026 / Georgia .041 / Mississippi State .071 / Auburn .116

(That last bunch really surprised me, although I was surprised Alabama wasn't in the mix.)

I think the results are pretty obvious!! But it was interesting to note the difference.

The Mountain West has four in the Top 50 ... okay okay ... just trying to represent. There are not enough gay sports fans in my conference ... grrrrr.