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I would like to know the last time it happened.

In 2008 to Texas. Beat No. 10 OSU and fell. OSU actually went up a spot because polls are all so relative, ie, every move is largely determined by moves around it. 
The mechanism was actually the same too in a way. Utah knocked off Bama and got a surge of support as an undefeated team. They went up five spots. The slight difference is that No. 2 Oklahoma fell past them, but USC, on the strength of crushing No. 8 PSU in the Bowl, also jumped them. 
As Bwarbainy said above, it was weird with playoff teams. OU and UGA flipped, which seemed right. Clemson fell three spots for losing to the national champs. You could argue they should fall more, but 1 to 7 would be a mighty drop, esp considering Clemson played better vs Miami than UW did. 

If you don't finish #1, then who the hell cares what number you end up at???  No one's going to give a damn if you finished 3rd or 7th.  

I dunno about that. Seems to me a certain rival of yours got a lot of mileage out of talking about a billion top-5 finishes in a row.

Exactly.

Being able to say "we're top-5" is a lot different than saying "we're #7" or whatever.

should be

bama
uga
okey

tosu
wiscy
clemson
ucf

I'd put PSU over UCF at a minimum. I think they'd tear them a new one. Probably TCU, Washington, USC, MSU, Notre Dame and Miami too.

I don't get Miami this year.....had a great season and all, but in the few pieces of games I saw them, I didn't see their QB do a single quarterbacky thing.  He'd just run around like a video game; sometimes chuck it towards someone and usually run for a few yards.  How do you do that well without a genuine QB back there??  

Honestly looked like if you put someone that had never played football into a live game...take the snap, freak out, run around and do something with the ball.  

Or am I just way off and didn't see enough of him?

Alright, here.  Without looking it up, where did Ohio State finish ranked in the AP poll last year?
Iowa in 2015?  Wisconsin in 2014?  

Iowa fans know the Iowa answer as I am sure Wisconsin fans know the Wisconsin answer. Iowa finished 9th in 2015, which is actually pretty typical for Kirk Ferentz.

Iowa fans actually make a big deal how Kirk Ferentz either seems to finished unranked or in the top 10.  Usually somewhere between 7th and 9th.

5 times Iowa has finished in the top 10 under Ferentz but never higher than 7th.

Ranked vs unranked is at least something.  But bitching about 6th vs 4th?  C'mon, man.