Here's another reason the timing is right (someone on this board brought this up briefly and I thought it was a great point). By declaring now, you'd really take a lot of the teeth out of the NCAA ruling in regard to hosting playoff games. As a new DI school, you're out of the loop for the playoffs anyway, so the only sport that is affected is hockey. Whip up an alternate jersey for post-season play in hockey, and people will flock to buy that, amounting to a few more bucks in the coffers.
The bigger issue: It's in the best interest of the University to make this move. Athletics is the collegiate equivalent to marketing spend in the corporate world. Inaction will result in falling behind the likes of the 'DSU's for prospective students and research investments. With the marketing analogy, it's basketball that is the real upside. From a standpoint of national visibility, the cost-benefit of DI-AA football versus DII football is minimal, at best. I hope you realize what is at stake, Mr. Kupchella.*
*Yes I've contacted his office via e-mail...I'm not just talking to myself on a discussion forum. Incidently, that was almost two weeks ago and I haven't received so much as a standard e-mail reply from his office in acknowledgement.