2. When a team makes a bowl, they split the money they receive with the conference. Obviously this year Notre Dame isn't making any money off of a BCS bowl, but if they do, which they think they can, instead of splitting $20 million with a conference, they keep it all.
That's a common thought...but it's incorrect. ND gets $1 million from the BCS when they don't make a BCS game. When they DO make a BCS game, ND gets $4.5 million...the equivalent of a second place team in a conference. ND used to get around $11 million if they made a BCS bowl...but things have been restructured.
3. Being independent always them to play all across the country instead of one region. That caters to their alums, as well as potential recruits.
Bingo! Rather than limiting 5/6 of the schedule to the same part of the country...ND can play out West, down South, and in the Midwest.
4. They are on national TV every single home game. If they join a conference, that won't be the case. That could hurt recruiting, and doesn't suit their egos.
Don't forget that even if ND is away...they are basically on National TV, too. They always show ND games because they know it brings in tons of viewers.