Yeah, that was back before the "REALLY BIG" Money totally took over the Top Division in College Athletics. Some of those schools back in the day who are today marginally FCS schools were respected, even formidable, schools in Athletics, football, etc.
As noted, the Southern Conference was well known and respected before some schools left for the SEC, to form the ACC, etc., etc. I remember way back as a child when Marshall and VMI would play a game at or near season's end in Bluefield for a few years or so.