A quick summary of the thread so far, which seems fair using educated opinions and numbers gathered by me and others from the following links:
NCAA Sport Participation Numbers -
http://www.ncaa.org/sites/default/files/Participation%20Rates%20Final.pdf
NCAA Division Membership Criteria -
http://www.ncaa.org/governance/membership
NCAA Performance List for Each Division -
Div I:
Schools sponsoring Men's CC/Outdoor Track (311/278)
Schools sponsoring Women's CC/Outdoor Track (342/329)
Athletic scholarships offered (Many programs have full amount of scholarships, most have at least 1/2 amount allowed - opinion)
Top rated academic schools (not even close).
Div II:
Schools sponsoring Men's CC/Outdoor Track (277/208)
Schools sponsoring Women's CC/Outdoor Track (305/231)
Athletic Scholarships offered (Virtually no programs have the full amount of scholarships (handful), most with probably 1/2 or less - opinion but well educated)
The least amount of top rated academic schools (not even close)
Div III:
Schools sponsoring Men's CC/Outdoor Track (401/294)
Schools sponsoring Women's CC/Outdoor Track (425/301)
No Athletic Scholarships
Next top rated academic schools (not even close)
Overall Summary:
If you are looking for a "Big Name" college, your only real options are Div I or Div III schools, with a few exceptions at the Div II level. You can still find great academic programs at average/poorly ranked colleges. You can also find average/poor academic programs at many of the "Big Name" colleges.
If you are looking for the best athletic competition, Div I hands down. Div II provides that next best top level competition. Div III is much less competitive at the national level. Getting All-American at Div I is by far the toughest. Div II is well behind Div I but much tougher than Div III to get All-Americans on the track/cc.
Div I is far and away more deep than the other divisions. You have to go well past 100 places on the national performance lists for Div III to eventually catch up to Div II in terms of depth/time in the 800/1500/5000/10000/3000st on the men's side and all the but 5000 on the women's side.
Great options for academics at all 3 divisions. Great options for athletics at all 3 divisions. Do your homework. Ask lots of questions. Meet the athletes. Understand that even if you are looking Div I or Div II, you most likely won't be getting big athletic scholarship offers (unless your a girl or an absolute stud male). Keep your grades up and take the standardized test often, as there is a lot of academic scholarship out there to get.