Schools left the AE to go to the CAA for a reason. The schools that left the CAA did so for "bigger and better" opportunities...usually with one sport in mind. American, VCU and GMU wanted one thing...a MBB conference. ECU, GA State and ODU wanted one thing...a FBS conference.
NEC vs CAA Football: Good move because this was a no brainer for your school. For one thing, you'll most likely play a FBS program at the tune of about $400,000. At least two of your games will be on TV. The CAA routinely has 6+ teams in the top 25. There is zero chance that playing St. Francis, CCU, Sacred Heart, Robert Morris, and Bryant comes anywhere near playing UNH, UD, W&M, JMU, Nova, and TU.
Baseball: You have to sort past 8 CAA teams (including 2 in the top 40) before you get to the best AE school...at 150.
Basketball: 2012 season was a bad year for CAA MBB. SBU had an unusually great season (83 RPI when they're normally 150-250); UA had an upswing from the 200+ norm; Vermont stayed about the same in the 130s but was excellent a few years ago, BU stayed around 150, and Hartford surged from their 290 average. The current CAA teams, to include CoC, usually go like this: UD (140); TU (150-300); NU (160); JMU (80s-250); Drexel (66..terrible 2012 season); CoC: 70-125.
Honestly, that seems like a wash to me but you can bet the CAA won't be down for long.
UA would have some hefty travel costs in the CAA but the TV contract may offset that some and the revenue from playing a FBS school every year would help. You'd expand your school's footprint to the south so that would help with recruiting.
I dunno, sit and wait may be a solid plan but the door to the CAA may shut in a year.