I think TV changes things for the split series. They would rather do an entire 3-game series in Austin vs. A&M or Baylor as opposed to the current setup. Only have to set up all the production equipment and personnel one time (1 weekend vs. 2 separate ones)
The way the split series are right now (from a cost standpoint) it's basically trading a hotel night for a bus ride. Over a 2-year period, the Ags will bus to Austin twice and stay one night in a hotel. Before the split series it was one bus ride to Austin and 2 hotel nights (every 2 years).
Also, if the program is going to start bringing in national opponents (like Fullerton) for 3-game series that would somewhat offset not having a game vs. the horns at Olsen each year. Especially in a season like 2011 where the horns' visit is on a Thursday night with school already out.
In fact if the split series were killed after this season, next year's home schedule would feature weekend series vs. Texas, OU, Tech, Fullerton, and FIU. That's a pretty good slate of ballgames.