I'm a big Irish fan (it runs in the family) but I'm really torn on whether or not this is the right move. I don't know if the Irish will ever get their mojo back.
I actually was listening to a radio program and they made an interesting point of something Notre Dame could do to make their teams competitive again. ND is no longer the only team on TV, the admissions standards are difficult, it's a religious school, they are not in a conference, and no one wants to live in South Bend. So they obviously are always going to be a bit hampered with bringing guys in.
So what Notre Dame needs to either do is join a freaking conference, or completely change their style from a grind it out kind of a team to a gimmicky, fast, prolific offense type team (NCAAF's version of the Colts) that will attract athletic recruits. It's worked for Boise State and West Virginia. It could work for a team like Notre Dame and at least make them interesting again.