Man, I just can't see the Bulls moving up to MLB. Not that I wouldn't love it, but that brand needs to stay in the ninors. It would be too weird to see them playing in MLB, even though I think the region could support it.
The problem I see is that I just don't know how you can have a MLB team in Raleigh while keeping the Bulls in Durham. Ideally, you move the Rays to Raleigh, keep the affiliation with Durham, and work to streamline as much of the front office operations for both levels to make both better.
At the same time, man.... I am not sure a team in this region can hang in a league without a salary cap playing in what would likely be the AL East or NL East. We'd get manhandled by those big money teams.