Penn State has the best case to make against tOSU because of the head to head win. If we win out and win the championship, we are in. Those are both big ifs. Wisconsin lost head to head with Ohio state in Madison. If Wisconsin beats us, its on a neutral field. tOSU lost to us at our field with a white out after we had 2 weeks to prepare and they faced Wisconsin in an overtime night game the week before. I can see Wisconsin getting left out before Penn State.
As far as who is the best team. I agree that on paper we are not the best team in the country, but unlike Louisville, we win as a team. Alabama will not be able to focus solely on one player to beat us. That being said, I don't think we can beat Alabama this year and being seeded 4th in the playoffs is no prize. I wouldn't mind a trip to the Rose Bowl.