This year was the rare cluster where even a plus 1 wouldn't work as you had 5 teams with a claim to be in the top 2 (+ Boise State and Texas Tech who lost their bowl games).
In one sense, I felt pretty bad for Utah (who I don't think is #1) because their coach bolted for Florida. I also felt bad for Utah after reading countless articles dismissive of Texas or USC because they did not win every game. Hey geniuses, neither did OU or UF.
But biased Pac-10 jocker that I am, I think USC really got the shaft because they got hit with that "Pac-10 is weak" again and then the Pac-10 goes 5-0 in the bowls. Pac-10 is the only major conference where every team plays the full schedule. That makes it tougher to go undefeated year in and year out. I don't believe a gimmick offense like Florida runs would do well against USC's defense, the closest thing is probably Oregon who were held under 30 just 3 times this season. Against USC they scored 10.