I graduated from an all-male college in the early 90's. I went there not because of its single-gender status (it had been that way since its founding in the late 1800s), but because it was one of the top-rated schools in its specialty (it is an engineering and science school - think Institute of Technology). During my senior year, the board of trustees set forth a bold plan to elevate the status of the school from a regionally-known and respected institution to one with a more national reach, albeit while still keeping it relatively small (it has grown from 1700 undergrads to around 2200 today but will likely not grow any more by plan). One of the primary factors in this plan was to move to coed - one which was voted on by both current students and alumni, and wholeheartedly endorsed by both groups. Now, it is still about 3:1 male:female, but the decision was far and away the correct one and a significant factor in elevating the status of the school as desired.
I am not saying that this is what Converse needs to do to improve the overall experience or viability of the school - their aims are certainly different than my alma mater's were at the time. However, from my experience, it was absolutely the correct decision to move to coed.