A quick bracket exercise based on
https://barttorvik.com/trank.php# :
Given the overall volatility between some teams' efficiency metrics and results metrics, I ran each team's average place between Torvik's ratings (efficiency) and the Wins Above Bubble metric (results), and ranked the results into a kind of bracket.
Here would be the resulting bracket (* = auto bid/highest ranked team from their conference):
1 seeds: Purdue*, Kansas*, Auburn*, Arizona*
2 seeds: Gonzaga*, Duke*, Baylor, Houston*
3 seeds: Kentucky, Texas Tech, Villanova*, UCLA
4 seeds: Wisconsin, Illinois, Tennessee, Providence
5 seeds: Michigan State, St. Mary's, LSU, Texas
6 seeds: Marquette, Iowa State, Ohio State, Xavier
7 seeds: San Francisco, Indiana, Alabama, Boise State*
8 seeds: Wake Forest, TCU, Arkansas, USC
9 seeds: Murray State*, Iowa, Connecticut, North Carolina
10 seeds: Wyoming, Loyola IL*, North Texas*, San Diego State
11 seeds: Colorado State, Davidson*, Fresno State, St. Louis
12 seeds: Oregon, Iona*
Last 4 in (12 seeds): Florida, BYU, Belmont, Seton Hall
First 4 out: Oklahoma, Notre Dame, Michigan, Mississippi State
Next 4 out: SMU, UAB, Miami FL, West Virginia
Overall, seems about fair as an evaluation of where teams are at if the tourney were seeded today. Gonzaga doesn't have the results metrics right now to hit the top 4, and I would anticipate if those 4 teams run the table, the bracket might actually shake out like that (they won't, so it won't, and Gonzaga running the table would give them a 1 seed, deservedly).
Illinois is right behind a cluster of very good teams, but should keep improving their status as they keep winning (they are 13th in efficiency and 13th in results now, just behind Wisconsin who is 4th in results).
Few surprising things: WCC and MWC have several at-large worthy teams, and I for one would be fine seeing 4 teams from each conference instead of a 10th SEC team or whatever have you. This bracket would be 7 B1G teams, 7 SEC, 6 Big 12, 6 Big East, 5 MWC, 4 Pac 12, 4 WCC, 3 ACC, and 2 OVC teams (Belmont has no bad losses and 3 Q2 wins, and Murray State is 3-1 in Q1/Q2 games).
Michigan does not have the results right now (73rd in result profile), and Iowa is also staying afloat with efficiency, and could stand to improve their B1G standing if they want to feel safe with a bid.