BIG CRIMSON GUY: What a dilema! Here's my advice, hope it offers a good perspective. When I read your initial post I got the following impression:
You have had an interest in a specific BGLO, maybe even had your heart set upon it, for some time. You even took the time to research its history, which only made you more interested in it. Then when you met your potential brothers, they let you down a great deal. Which would cause you to question the national organization a bit (why do the brothers have such a low GPA, etc.), but still have respect for the national organization and its history.
At the same time, you happened to meet another bunch of guys in another GLO. You didn't have much interest, but as you spent time with the brothers, you began to grow to respect them a great deal. I don't know how much, if any, you have researched this GLO. If you haven't, you probably should.
-------
So, here's the advice part finally
Your basic choice is between 2 things: 1) Do you want brothers you can have fun with and respect for the next couple of years, and then as an alumni for life
2) Do you want brothers who you can't respect in your own chapter, but you have a great deal of respect for their past and the national organization? And for the rest of your life you will be able to say 'I am a *BGLO letters here*'
If you respect both organizations nationally and historically, then maybe you would be just as proud, if not more so, to say you are a *fill in 'white' GLO letters here* in 30 years.
It seems to me that if you truly want to be a brother of the BGLO, you should wait for a graduate chapter. You could join now, but if you're the only brother interested in reviving the chapter, it probably won't work well. And that will just lower your morale about the whole organization. And if the brothers aren't interested in frat life for the same reasons you are, and you don't have much respect for them as a chapter, you're not going to like calling them brothers.
In your 2cnd post, you said you're a Carpe Diem kind of guy. If you're more interested in being greek right now, as an undergrad, then go w/ the guys you could respect as brothers (assuming you respect the national GLO's purpose, etc.) It sounds like you would kind of really like to become a brother here, but feel like you'll be 'selling out' if you give up on the BGLO.
I had absolutey no intentions of becoming Greek, and my sophomore year I went to a rush party w/ a friend, and now I can't imagine what it would have been like without my frat. I absolutely loved the brothers and sisters AND everything the fraternity stands for.
Your choice isn't easy, but I hope you make the decision you'll be happiest with! Good luck!