Working on the game preview now, but my take on it is this (reprinted from AGS):
Lehigh and Lafayette can rightfully say that the other would have the same record with the same opponents. (Laf over CCSU and Penn, losing to JMU? Very possible. Lehigh losing to Bill&Mary, Delaware, Princeton? Very possible.) With Wagner acting as a proxy for CCSU (i.e. a middle-of-the-road NEC team) and Lehigh playing Princeton, it will be easier for Lehigh and Lafayette, at least, to compare and see how close they might be.
In that sense both games are big. If Lafayette loses big to Wagner, panic at the disco, compounded if Lehigh beats Princeton. If Lafayette beats Wagner and Princeton blows out Lehigh by two scores or more, Lehigh/Lafayette could be seen as pretty much at the same level.