Mike: I think it depends upon your definitions of "really close" and "power team". Davis kept talking about the goal of MT becoming a "national team" also for which there is no clear definition.
MT had been among the top two or three in-state teams for several years, even ranked highest one year IIRC. (yes the big three were all down during our best years) Sustainable? We won what at the time was arguably the biggest upset in NCAA tourney history, didn't fall off the map but instead followed up the next year with another upset, and then had possibly the best team the next year until the wheels fell off.
Fifteen months ago we were ranked for the first time ever, several pundits had said we were built "for a deep NCAA run", had the best three man freshman class ever signed; and then, and then . . . We run into a Marshall team on a roll for Sr. night, rumors of Davis leaving surface, and we lose it all by closing the season 1-3 (The only win a blowout victory over a good Vermont squad in Davis', Potts', etc Murphy Ctr. farewell).
I don't think any of us can definitively state with certainty just how close MT was to being a respected program, regardless of what you call it. And now MT's men's BkB program is just another mid-pack in-state %$&-major far behind the three "power" schools, Belmont, Lipscomb and possibly others. It's easy for a %$&-major BkB program to fall off the cliff after success, it is very hard for such a program to rebound quickly, if ever.