I haven't had time to read most of the responses, so I'm not sure if I'm duplicating anything.
Not sure what you mean by "interesting, isn't it?" (whether it means WM was the best choice at the time, in retrospect, because nobody wanted the job or it could have been disastrous if we hired anyone but Altman, who didn't want it anyway, etc)
The worst thing about replacing LE was timing. The fiasco came to light in April. That meant that, if the AD chose to boot him, there were going to be almost no prospects available because any school that wanted to make a change would have moved on it as soon as that team was done for the season, and coaches who were looking elsewhere would bolt immediately, too. And those two things would have had to synchronize even if LE's situation had been during Final Four week. (Not to mention, budgetary considerations AND taking into account if prospects didn't want to step into such an unusual set of circumstances).
In essence, if it all went down a few weeks earlier, or during a different year, certain things might have changed.
I still think the best bet in that situation would've been to name WM interim coach, then see where the cards fell. But even that's easy to say seven years later.
Since a lot of us are talking about LE, I think it’ll be interesting to imagine how things will turn out if someone else than WM ended up getting the job:
Here are the 4 top candidates to replace Eustachy according to Iowa State Daily that time:
Creighton coach Dana Altman, Wyoming coach Steve McClain, Fresno State coach Ray Lopes, Tennessee-Chattanooga coach Jeff Lebo, and ISU assistant Wayne Morgan. Altman and Lopes removed themselves from consideration before interviewing. McClain was interviewed but didn't get the job.
Here's where they are now:
Dana Altman: still at Creighton. People say that he likes to stay as big fish in a small pond. Since 2003 until end of last season: 134-65, 4 NIT and 2 NCAA. NCAA and NIT appearances ended in either 1st or 2nd round, 1 regular season championship
Steve McClain: fired from Wyoming in 2006. Now an associate HC at CU
Ray Lopes: resigned from his position at Fresno State in 2005 based on his involvement in NCAA rules violations in the recruiting process. Now assistant coach with U of Idaho Vandals.
Jeff Lebo: now at…..Auburn after leaving UTC after 2003-2004 season. Record at Auburn: 81-76 with 1 NIT appearance.
Interesting, isn't it ?