The whole, who's best vs. who had the best season is an intriguing question.
But 2002 USC? #5 in AP and Coaches poll to close the regular season. They probably don't get a chance because Iowa and Georgia come first. Unless you think the committee takes the 2-loss Pac-10 runner up (Wazzu won the Pac-10 with the same conference record and the head-to-head victory) over the 1-loss Big Ten runner up.
USC had a much better resume as far as ranked teams. Iowa played (and beat) two, including winning at #12 Penn State in OT, and throttling #8 Michigan in Ann Arbor (by 25); the Hawkeyes lost to unranked Iowa State (at home). USC lost at #25 K-State (by one score) and at #17 Wazzu (in OT), but beat #18 Colorado (at Colorado, by 37), #23 Oregon State (22-0), #22 Washington (by 20), at #14 Oregon (by 11), at #25 UCLA (by 31), and #7 Notre Dame (by 31).