I don't think North Carolina is a heavy favorite. They had a scare against Arkansas and just barely beat Kentucky, so they are vulnerable. I don't think the "been there before" thing really matters. It didn't really help Villanova this year. All college teams are young and inexperienced, so UNC doesn't really have that much of an advantage. Gonzaga, South Carolina, and Oregon have all played better during the tournament and against better teams. I think this Final Four is really a toss-up. Gonzaga has been dominant, South Carolina has a very good defense, Oregon just beat Kansas by double digits, and North Carolina made it out of a very tough region.