ive got to agree with being top 10. but its all relative. if you had a team, 10 years in a row, be top 10 and not make it out of the 2nd round, that might be worse than a team who was say an 11 seed (so its still an at large bid) and makes the sweet 16 ten years in a row. but if you a relatively prestigious program, it would look better for them to be top 10 all season IMO.
now, for a low prestige school, i would also think being top 10 could be better for them. there are enough low prestige programs pulling off elite 8s or final 4s that really 1 sweet 16 isn't that big of a deal. if you are top 10 all season, then people are thinking about you all season, instead of just for 1 week, and i think that is bigger.