...I don't really care about wins so much. The most important things are program stability with high graduation rates and minimal embarrassing, off-field activities.
Given the number of people in college football who have a win-at-all-costs mentality, I'm just not even sure that it's worth expecting to compete with them when we all know the playing field is rarely level. And when you consider the risk of Colorado or Penn State style scandals, I don't feel it is worth the risk of creating expectations for wins and subsequently hero-worshipping those coaches & players who deliver on those expectations.
I know that I'm in the minority but if I learned anything from the recent years of Michigan football it's that a losing season is no the end of the world. The game is meant to be a fun, Saturday afternoon distraction and if one keeps a level head about things, then even the losing seasons can provide a pleasant bit of entertainment.
I'd also agree with those who suggested that we only have two uniforms. Maintaining traditions should also be considered a baseline of success. The more we lose such things, the easier it is to lose interest. And that, for more than any wins, would be a much greater failure.