For football, 500 level is perfect. Imo, these are the best seats in the house, and are defintely the best value.
I am not sure how these would translate to hoops, though. I have only attended the first two weekends of action in NOLA and have always had lower level seating. I don't recall the upper levels being used, but maybe it is opened for Final Four action.
I'll ask around this morning and get back to you.