Alabama is #1 because they are the only unbeaten BCS conference team in the country. (this was easy)
Florida is #2 because they are a blocked extra point from also being unbeaten. The SEC title game next week is a national semifinal, and you can begin the speculation of a rematch should Florida barely beat Alabama and Missouri upsets the Big 12 south champ. The Miami win in the non-conference lost some luster with the stumbles of the last two weeks.
I went with Texas at #3 because they beat Oklahoma. Texas Tech has an argument, but got drilled by the Sooners and were two miracle plays (a dropped INT and Crabtree's TD) from losing to Texas.
Oklahoma is #4. They are a great team, but if they really wanted to play for the title they should have beaten Texas.
Utah is #5. The Mountain West went 6-1 this year against the Pac 10. They beat the team (oregon State) that knocked off USC in Pac 10 play. They have done all that is asked of them, yet still won a deep conference with two other top 15 teams (TCU and BYU). Why not give them a shot?
Penn State #6. They pounded Oregon State, who beat USC. Enough said. Their loss to Iowa is better than Florida's loss to Missisippi (Perfect weather at home for Florida, bad weather on the road at Iowa), but the rest of the competition isn't as good.
USC at #7. The Oregon State loss hurts more now that they got destroyed by the same Oregon team that struggled with Purdue.
Texas Tech at #8. Got drilled by Oklahoma, then struggled with lowly Baylor on the Radiers' home field. Not the way to impress the voters. Enjoy the Cotton Bowl.
Boise State at #9. Great team, but a weak conference.
Ohio State at #10. They are the only team with two losses in the top 10, but both are to top 10 teams.
Ball State at #11. Great team. In any other year they would be in the BCS with this reanking, but they can't help that Utah and Boise State had a better year. They did all they could but they have the weakest schedule of the four unbeatens by far. Unfortunately, if you give them the schedule of any of the top 10 teams they would struggle to make a bowl.
Any other comments?