I'm a Michigan fan and I know that the USC loss could/should put the Wolverines in the no. 2 spot but I just can't get that excited about a UofM/OSU rematch. I understand what Joe is saying about it happening in other leagues and/or sports but personally it feels like a no-win situation.
In my mind, when Michigan upset Notre Dame it was pretty clear they were a special team. At the start of the season they weren't even ranked in the top ten and as a fan it was great to see them march upwards through the rankings as they over-performed and exceeded expectations. It was the kind of season a fan hopes for!
It was equally frustrating to see the polls rank USC higher whenever the voters could find any possible way to construe that they were a better team. It seemed pretty clear to everyone else that Michigan was better. My brother-in-law is a die-hard USC fan and even he has admitted that, this year, USC just isn't in the same class as UofM or OSU. I'm sorry if I've offended any USC fans but there is no getting around the fact that the team choked not once but twice. If I'm wrong we'll find out in the Rose Bowl and I'll be the first to admit it!
What really made me crazy was seeing USC ranked over UofM even though UofM had 11 wins and a loss to the best team in the NCAA while USC had just 10 wins and a loss to a poor Oregon State team. You can't assume a game-in-hand is an easy win - as clearly demonstrated by what happened yesterday!
As much as I would like to see Michigan be National Champions it's just not in the cards. I really believe the National Championship was played two weeks ago and Michigan lost despite a great effort. Even if they were to play Ohio State for the championship and beat them after a six week layoff it just wouldn't mean that much.
At this point I'd personally rather see Michigan play USC and make it very clear who is the better team. It also could mean the two biggest bowls for the Big Ten - any Big Ten fan loves that.