This is fantastic. The following are just some picking nits that I see here, but I absolutely love this concept and presentation. It is quite evident that you put a ton of work into this concept. Kudos to you.
* As a Sparty fan, I hate seeing Ohio State, Notre Dame, and Michigan all in our division, but I suppose adding Notre Dame and losing Penn State is pretty much a wash. Indiana might not ever win a division game in this format.
* Losing the Red River Rivalry seems like a deal breaker (though, as you said, they could still schedule non conference). I stared at that map for about 15 minutes trying to move teams around, and it doesn't really work geographically, so I'm good with it.
* Just like real life, the PAC sucks.
* This point is without a ton of research, but Montana seems like a stretch. UNLV, SDSU maybe?
* In terms of overall strength, it'd probably go: 1 SEC, 2 B1G (huge gap), 3 ACC, 4 PAC
These are just some quick points. Can't stress enough, though, how much I enjoyed what you threw here together.