4 teams in any given year are usually good to very good. You can count on W&L and Lynchburg being at least tournament quality just about every year recently. Roanoke is usually bubble or in for Regionally Ranked type teams depending on how the season falls. Then you get a solid to good team or two every season out of some mix of R-MC, H-SC, Va Wes, and Randolph.
I wouldn't say it's the deepest league in D3 by a longshot, but the top half of the conference is usually good competition. Unfortunately the bottom half is usually very bottom half.