As I've said before, at this point in time it's not about any hard feelings towards IU it's about interest level.
Right now I just don't think IU v UK has the mass appeal that it once had, since the demise of the hoosier program the game just wouldn't generate a lot buzz outside of Rafters and Peegs. Also, I'm not sure what sort competitive gains the squad could get out of it. I want the team to get the most possible out of the the 5-7 legit OOC opponents, and at this time I don't think IU can provide a whole lot. There are a dozen other programs I would like to see us play and who I think could provide something other than nostalgia of a by gone era.
In all honesty I think Butler would be a good program to try and work something out with before IU. They're a well coached team that seems to always fight like hell, play really good basketball, and more often than not have solid upperclassmen experience , which is exactly what our young teams need to see early and often.
In addition to the bulldogs I like the idea of trying to work something out with Xavier, Gonzaga, Arizona, Villanova (at the palestra, how cool would that be?), Wichita St, and Oregon. Teams with really good coaches who are going to be around in march.