Situations matter.
Its important to include intangible factors as part of your analysis when looking at games and arguments like this. These are not paid professionals, the better team doesn't always win, in fact the better team frequently loses in collegiate sports, it goes back to the "any given Saturday..." These are kids - with limited time to prepare who can and will be influenced by the home field, and the crowd, and the travel, and school work, and you name it. There are also history and rivalries that have an impact on focus.
The Oregon schools (and the Beavers in particular) have USC's number at home. Conversely, Oregon State never travels well outside of Pac 10 play, they always lose non-con roadies and frequently get blown out like Louisville, Penn State, Boise, Cincinnati, Utah, and Fresno in recent years. But the simple fact remains, there isn't one team in America that could have come into Corvalis on Thursday September 25th and beaten the Beavers. USC was fucked before the game kicked off.
Just like there isn't one team in America that was going to go into Lubbock for that night game and come away with a win, especially not one on the tail end of 4 mentally and physically draining games.
Just like there isn't one team in America that was going to go into Norman last Saturday night...you get the picture.
I expect the general public to not be aware of these factors, but folks at this site should know exactly how it works. For my money - USC, TT, Texas, and PSU all have losses that are either forgivable or somewhat explainable based on a combination of the foe and spot. OU has a quality loss by virtue of who the opponent was, but I can't really see any inherent advantages that Texas had, so I would say their loss is good but to a lesser extent. I think right now, Florida is skating by. Mississippi isn't a bad team, but that was a home loss. The SEC-love right now is keeping it under wraps from what I can tell. No doubt the Gators offense is impressive, they may very well be a top five team, but unless you just assume that the SEC is the best conference you couldn't really say they have a top five resume. They still have two more tests though, a road rivalry game and a championship game, if they get by with one loss it will be tough to argue with them and I won't try. I just can't say that UF has done any better against their schedule than USC/Texas or anyone else would have, but that does seem to be presumed by many folks.