What about TTU? Why do they get left out? If you put Texas over Oklahoma based on head to head, then TTU should be over Texas because they beat them, and if you put TTU ahead of Texas, well Oklahoma beat them, and 'round and 'round it goes.
I agree, USC played a lame schedule, but is that their fault? They put a decent ACC team, the preseason #2, and Notre Dame on their non-conference schedule. Is their loss to Oregon St on the road worse than Florida's to Mississippi at home? I'm not taking sides here, but there's a good case for USC. There's a good case for each Big 12 school. There's a good case for each SEC school, even if 'Bama loses like you suggested.
I hear people say the BCS is good if only because it generates so much discussion. I don't agree. If something requires fixing, then it isn't good until it's fixed no matter how much discussion the problem generates. Until there is an 8 team playoff, like there is in every other classification of college football, the system is broken.