I know this whole "do we keep Rich Rodriguez" thing has been beaten to death. But this is one angle I haven't heard discussed.
So, it seems, as a very general statement, that if Rich Rodriguez were to leave, Jim Harbaugh would be the #1 target to be Michigan's new coach. Now, if you look at the situation for both coaches, and if Jim Harbaugh is in fact our #1 guy after RR, Michigan is in an advantageous position. Rich Rod's contract runs through the 2013 season, while Harbaugh's runs through the 2014 season.
What this means is that there is no rush to snatch Harbaugh up right now, because if we give RR one more year and he totally blows it, we will be sitting in exactly the same situation we are now next year. Basically, the point is that we gain nothing by rushing into a Harbaugh signing, but we gain an extra year to see what Rich Rod can do next year if we wait, while still having the ability to get him at that point. Cost-benefit and such....
P.S. - Yes there's the possibility of him going to the NFL, but if he wants the M job like some people say, I think he'd wait around another year or so.