I think in the majority of years, there is one team that's a gimme and two or three others who have an argument for the second spot. I'm an SEC guy, but one problem you hit on is perception. It often happens with basketball as well. When one conference is perceived as superior, it greatly affects all the numbers - sos, computer ratings, poll position, etc. This year, for example, Ole Miss and Miss St. shot up the polls from nowhere based on early wins over their SEC brethren. Miss St wouldn't have shot up so far except for the perception that Texas A&M was a powerful team. Well, not so much. Unfortunately, whatever perception exists pre-season is too big a factor to overcome. I think, top-to-bottom, the SEC might actually be the best it's been in a long time, but without nearly the power in the top two or three spots. I think the real answer is to have the selection committee stop putting out those week-to-week rankings. It restricts their ability to make solid decisions come selection time.
I thought it a little funny that the supposedly weaker SEC East has been quite successful during the bowl season, while the West has sort of fallen on its face.