My rankings are based on who I would make favored over whom on a neutral field.
1-Ohio St.
2-Oregon
3-Miami
4-Alabama
5-Tennessee
6-Georgia
7-Ole Miss
8-Texas Tech
9-Notre Dame
10-Missouri
11-Oklahoma
12-Texas A&M
13-LSU
14-Indiana
15-Ga. Tech
16-Vanderbilt
17-Arizona St.
18-Michigan
19-Utah
20-Penn St.
21-BYU
22-Washington
23-Florida
24-FSU
25-Texas
26-TCU
27-Illinois
28-USC
29-Nebraska
30-Auburn
31-Clemson
32-Cincinnati
33-Iowa St.
34-Virginia
35-Mississippi St.
36-Memphis
37-South Carolina
38-Baylor
39-Kansas
40-Iowa
41-Louisville
42-SMU
43-Duke
44-South Florida
45-Arkansas
46-UNLV
47-Maryland
48-Tulane
49-Boise St.
50-Old Dominion
Just Missed: Maryland, Arizona, Navy, Pitt, North Texas, Minnesota and Rutgers.