This means that each team will have one home game against each other beginning that year, and to me, that means nothing but good things for both teams, not just Michigan. There are pros and cons to the game sure, but the pros outweigh the cons. Realistically, the only cons of this situation I could think of is Michigan of UCLA being a bit jet-lagged, or not able to adjust to the time of kickoff due to the time zone changes. However, the pros are huge in this series. Both programs would benefit from the games greatly due to the exposure from national televised games, also from the magnitude of the game depending on where both programs stand in the preseason polls that year.
The teams would also benefit greatly in the recruiting department as well. Bringing in top recruits has been Brady Hoke's best trait as a football coach for the Wolverines, and if he is still there, it is a huge recruiting chip. Due to the fact that there is a home game in each team's state, a coach could promise a big time player from California or Michigan that they would be guaranteed to play a game in their home state, which is a nice option to have. Secondly, they could sell the idea of the games being a battle of two nationally ranked teams, and have the chance to compete with the top talents in the country.
Lastly, this game also could help each team with strength of schedule to help boost them into the college football playoff that is set to begin next year. If both teams continue having success both on the field and in recruiting, we could be talking about a couple of games that could shake-up the national polls, and possibly who gets a bid in the college football playoff.
Furthermore, I think this series brings nothing but good national attention to both programs, something that is rare in college football nowadays. I think this series could be fun and help out both programs greatly. Given the notoriety of each program, college football as a whole could benefit as well. We may just have to wait and see on all these "what-if's" but either way, college football could be in for a tough, hard fought battle of two national title contenders, or just a cool series to host.