This is great news. At least, 41 of the 144 regular season Big East games for the next six seasons will be on ESPN or ESPN2. The rest will be picked up by CBS, ESPNClassic, ESPNU, ESPN360, or ESPNregional. All Big East tourney games will be on ESPN or ESPN2. That means, on average, each Big East team will have 5 of its 18 regular season games broadcast nationally. But, in reality, the better teams in the conference will probably have 8 or 9 -- and that's not including games picked up on ESPNClassic, which most cabel providers now feature.
Update: This is the best article I've seen on the deal; money quote: "After this week, it doesn't appear the Big East is going anywhere ... except the bank." Based on the estimates, it sounds like this deal will at least double the TV income for our basketball program.