jp, I think good wins were not weighted heavily enough before (barely at all, really). I honestly think this feels about right. In real life, quality wins (and just how you did against strong competition in general) is a very major component. It separates the men from the boys.
I actually checked out Marquette earlier because I was curious since they had a lot of wins and a solid RPI ... but they didn't beat a single good team all season. They wouldn't have gotten a bid in real life, either. (I know your point wasn't just Marquette, but I happen to know that one off the top of my head.)