Olson having medical issues is just a rumor, not fact. I heard an interview on the radio today were he said that he has no medical problems, major or minor. The Parkinson's Disease rumor isn't true.
Now, he may only have a few years left because he's 72 years old and might retire but that doesn't seem likely considering his good health.
One thing I think we can all agree on is that having both schools fielding good teams and therefore making the games better and more closely contested would be great for the rivalry and for recruiting. And I mean good teams in all sports, not just football and basketball.