That extra credit you mentioned is equity for being consistent over the past 50-60 years. That's why we're a blueblood.
As for Wake I seen them play a few times and they are good team at home (undefeated) but on the road they're average. They have some good players and if they do make the tournament I can see them winning a game and then again I see them losing too.
duke is going to go as far Flip can take them. McCain like Sheppard is a stud but they're good enough to go on a run, just like UNC but both team can easily get bounced out in the first weekend.