We already discussed this some in the other thread. Maybe you have a 2 loss team you think was really terrific also.
LOL, helmet school problems.
MSU is been pretty decent since Dantonio was hired, and have still only had 2 or fewer losses in 5 of 15 seasons.
By this standard I would say obviously 2011, which only had 3 losses because it was the first year there was a CCG, and that's where they picked up their 3rd, in what remains the best CCG over a decade later. Beat Georgia in the Outback Bowl, back when teams were still at full strength for such games.
But if the question is more broadly "which team was better than their record", I'll go back to 2004. They were 5-7, and didn't even go to a bowl. But Drew Stanton wasn't ready to start the season after tearing his ACL on kick coverage, yes kick coverage, in the Alamo Bowl the year before. They started 1-2, with 1 score losses at Rutgers and Indiana, without him. He debuted in Game 4 at Indiana, and after a rusty start, falling behind 20-7 at the half, in his first ever start as QB, outscored Indiana 23-0 in the 2nd half to win.
That kick started a 3-1 start with him, with the lone loss being on the road at Big Ten champion Iowa, and included a 51-17 drubbing of #19 Minnesota. They then led Michigan 27-10, before he got hurt again on a dirty hit by LaMarr Woodley, and Michigan came from behind to beat Damon Dowdell. Dowdell played the next week, and led Ohio State 19-17 with 2 minutes to play, before Ted Ginn scored on a 58 yard TD. MSU hosted undefeated #4 Wisconsin the following week, again playing their backup QB. After taking a 21-14 lead into the locker room thanks to a 4th and goal line stand. Stanton surprised everyone by coming out in the 2nd half, playing with his separated shoulder heavily wrapped. MSU drubbed Wisconsin 28-0 in the 2nd half to win 49-14, running for 430 yards on 9.8 ypc, with FOUR different players tallying 40+ yard runs.
Then somehow they gagged against Penn State, and then went to the island and lost 41-38 to Hawaii in a hilariously officiated game, where MSU tallying over 600 yards of offense, but were flagged 16 times to 5 for Hawaii, two of which were phantom blocks in the back which negated 75+ yard scores. I believe Northwestern and Wisconsin had similar experiences, which led to the Big Ten no longer playing those bonus games out there.
So 5-7 on the whole, but 4 of those losses (Rutgers, Notre Dame, Michigan, Ohio State) coming without their starting QB. One coming to the Big Ten champ, and one in a questionable manner to Hawaii. Really only the Penn State loss was head scratching. Two of the wins were by 30+ points over #19 and #4. I think to this day, that is the best OL MSU has ever had. And it was wasted on a bad defense, an injury prone QB, and John L. Smith.