89Hen wrote:FWIW, I always thought of the word "program" to be the whole package: on field accomplishments, attendance, fans that travel, tailgate experience, name recognition, facilities, etc...

This. For me, an elite program has to good at EVERYTHING. On-field and off field. Basically everything 89Hen said and I'd add money to it. Programs who make big money off the field, not just from ticket sales, are those that are elite, in my opinion.
For me to answer this question, I think about what FBS teams are "elite" under this definition. Obviously Alabama, USC, Ohio State, Michigan, Oklahoma, and Texas come to mind. Say what you will about these teams, but the only distinction that seperates them from other top FBS programs (like the Florida schools, for example) is their long-time staying power. You can still have a down period and still be an elite school, provided you meet nearly every standard that other elite programs do.