I think it is legitimately a really close call between tOSU and Michigan for the top spot. Here are their results sorted by Sagrin ranking for their opponents:

Michigan's big win over Penn State stands out as easily the most impressive result by either team but their 13 and 7 point wins over Iowa and Maryland stand out the other way. Ohio State seems to be a bit more consistent with nothing really jumping off the page in a good or a bad way relative to Michigan.
As an Ohio State fan, Michigan looks scary to me. I don't mean scary just to lesser teams, I mean scary to the Buckeyes as well. When they are good, the Wolverines are REALLY good. Here are Indiana's second half possessions against the Wolverine defense:
- 7 plays, 26 yards, punt
- 3 plays, 7 yards, punt
- 6 plays, 23 yards, punt
- 3 plays, -9 yards, punt
- 3 plays, -11 yards, fumble
- 6 plays, 8 yards, downs
That would be impressive against an FCS opponent, it is REALLY good.
Here are Penn State's four possessions after they kicked a FG to take a second-half lead:
- 9 plays, 36 yards, downs (while down 24-17)
- 5 plays, 16 yards, punt (while down 31-17)
- 6 plays, 22 yards, downs (while down 34-17)
- 9 plays, 42 yards, downs (while down 41-17)
While their defense was doing that to the PSU offense, the Michigan offense scored on four straight drives (3 TD's, 1 FG) to turn a 17-16 PSU lead into a 41-17 Michigan blowout.
Like I said, when they are good they are REALLY good. That said, they also have a trend of letting inferior teams hang around. Indiana was tied at the half and within one score until midway through the final quarter. Penn State, despite getting statistically obliterated, was only down two at halftime and very briefly held a second half lead. Maryland was within four at the half and within one score for all but a few minutes. If they keep playing questionable first halves it is likely that one of the teams they should beat will knock them off and/or that Ohio State will build up such a massive lead that the Wolverines will be unable to catch up.
That’s why it’s called complimentary football. You will notice these drive stats you shared are all second half.
Either you believe UM players are in better physical condition or, you understand that brand of football. A close relative of Tresseball.
At least part of any teams ability to run the ball is directly correlated to their legitimate threat to pass. Teams with real balance on offense can hit you with either a run or pass on most downs. If their is no legitimate pass threat, it is much easier to stop the run. Unless….
your defense never gets a break because the offense keeps punting. Then they get worn down, and can’t stop the run even when they know it is coming. And, they start missing simple assignments and run fits.
This is what Michigan did to Penn State. PSU offense has not much of a downfield passing threat. Same with Iowa. Over the course of a game, it becomes easy for the opponent to stop your run, and excel in their own. Tressel was the master. Harbaugh is every bit as good- but notice the pull away is almost always later in the game.
It will be interesting- some of these upcoming matchups. How many teams in the conference can legitimately beat you with true passing games, or powerful running games, that keep you honest on defense.