Appreciate everyone's insight! So, Ward Lambert (Purdue coach of 1940 outright Big Ten Champs) turned down the NCAA invite because he considered it 2nd rate compared to NIT (IU then invited because finished 2nd in Big Ten / IU would win 1940 NCAA). It does appear NIT was greater than NCAA at least until 1951 and probably until 1957 or 1958. 1957 North Carolina might have been 1st NCAA Champion where NCAA was greater than NIT. It really makes you look at the early NCAA tournament champions in a different light.
Purdue in 1932 finished #1 in Premo-Porretta Power Poll (1896-1948) at season end. Purdue was the National Champion in 1932.
Purdue in 1969 advanced to the NCAA tournament Final Four where they beat North Carolina and Dean Smith by 27 points before losing to UCLA and John Wooden in the Championship game.
1980 Purdue advanced to the NCAA tournament Final Four once again before losing to UCLA who later was found to use ineligible players.
1932, 1969, and 1980 in that order are Purdue's best years so far on the national level.
I see Purdue in the 2022 Final Four, we hardly ever beat teams like North Carolina and Villanova
in the same regular season (and the way we beat them = outscoring them, just what you need in March). And before his time is done, Painter and Purdue are going to hang the 1st NCAA Tournament National Championship banner in Mackey, too.
Justing putting into perspective that even if Purdue had the 1940 NCAA Tournament champion banner up in Mackey, it really would not mean what the same banner after 1957 means.
Purdue has a solid national legacy, and its about to grow some more in the future. Go Boilers!