My Case for the Aggies:
It would allow for NMSU Football to drop down a division, and keep their Basketball Program in a league that currently can put upwards of 6 teams in the NCAA Basketball Tournament(ESPN Bracketology Prediction as of last week) .
New Mexico and New Mexico State are rivals dating all the way back to 1894.
New Mexico currently leads the series by 20 games (115-95).
UTEP is also considered a team that MWC might invite in all sports, these 3 rival
schools(New Mexico, New Mexico State, and UTEP) have been playing against each other for years, and makes geographical sense.
My Case for the Pioneers:
This is going to be a tougher school to sell to the public if added. Denver U would basically be a school to add to make travel in the other sports more manageable. Imagine if you are Houston/UTEP/Tulsa/UTSA/SMU and instead of having to visit Hawaii or some odd school on the west coast twice a season, you instead have to visit Denver in all Olympic sports(If they break it down to divisional play)
Denver would be the third school from Colorado(Air Force and Colorado State). It would be instant rivals with Wyoming, Colorado State and Air Force if added.
I can't seem to find a ton of history on Denver University on the interweb.