Update (6:30 p.m.) Pete Thamel reports that West Virgina claiming they were not rejected by the SEC, but told they are only an option if the league expands to 16 teams. Sure, whatever makes you feel better.
In what will be a surprising turn of events to many, it appears as though West Virginia has had applications rejected by both the Southeastern Conference (SEC) and the Atlantic Coast Conference (ACC). This comes via CBSSports' Brett McMurphy, whose Big East sources indicated to him that the West Virginia officials have confirmed both rejections.
For weeks now many had assumed that with Texas A&M likely heading to the SEC, West Virginia would be the likely 14th member of the conference. But it appears that the lack of a major media market and poor academics (moreso in the case of their ACC application I imagine) have left them in the Big East for the time being.
So sorry we're not sorry, Oliver Luck.
Right now, this doesn't have too much of an impact on Villanova. West Virginia were never going to end up in the ACC - they were always less of an option than Villanova is. However, this does bring another foot forward in the potential Big 12-Big East merger now that West Virginia looks set to stay with the Big East (or whatever may become of it).
For Villanova, it's stay the course. Either find a way into the ACC, or make sure that in any future Big East-Big12 mashup, you are included with FBS football.