What may surprise some is the Florida Gators coming in at No. 2, as they are No. 3 in the AP poll behind the Oregon Ducks, who are third in the rankings. Rounding out the top five are Kansas State at four and Notre Dame in the five spot.
Now that we know who falls where in the BCS rankings, here are 10 things we learned.
Not only does the SEC hold the top two spots in the BCS standings, but there are a flurry of SEC teams scattered all over the top 15 of the BCS rankings.
In fact, there are six teams taking up spots in the top 12—Alabama, Florida, LSU, South Carolina, Georgia and Mississippi State.
Of those six teams, three of them are undefeated—Alabama, Florida and Mississippi State. The Crimson Tide will play the Bulldogs at home in two weeks while the Gators don't have to play either team.
This seems to bode well for Florida, although its next two games are against ranked opponents at The Swamp.
Either way, there are plenty of candidates to represent the SEC in the BCS national championship game and the BCS bowls in general.
If Ohio State were eligible to play in the postseason, this would be a false statement because the Buckeyes are undefeated (7-0) and ranked in the top 10 in the AP poll.
However, this is not the case.
The Big Ten doesn't have a single representative in the BCS rankings in the entire top 25. That doesn't bode well for the conference getting a team in the title game. Thankfully, it earns an automatic bid with the Rose Bowl, but it probably doesn't deserve it at this point.
There's still plenty of football to be played, but other than Ohio State, only Northwestern has under two losses on the season. That's not good.
The biggest surprise through the first seven weeks of the college football season has been the Oregon State Beavers.
At 5-0, Oregon State has already has some impressive wins on its resume with victories over Wisconsin, UCLA, Arizona and BYU and comes in at No. 8 in the inaugural 2012 BCS rankings.
Then there is Oregon, who may feel snubbed by its No. 3 ranking behind Florida. Either way, there is still hope for the Ducks to sneak into the title game, but they'll have to get by Oregon State first.
If both teams can somehow navigate the Pac-12 schedule up until Nov. 24, each team will be undefeated for the Civil War Game in Corvallis. And with the way these two teams have looked so far this season, it's not out of the realm of possibility.
The winner of that game could very well find themselves in the national title game, and the loser could be out of a trip to a BCS bowl.
Despite losing two weeks ago in Gainesville, the LSU Tigers sit in the sixth spot in the BCS rankings, three places ahead of where they rank in the AP poll.
That makes them the highest-ranked team of the one-loss teams, so should everyone else drop a game ahead of it in the standings, LSU could win out and find itself in the title game.
Of course, that would mean reeling off four straight victories against ranked opponents, including a showdown with No. 1 Alabama in Baton Rouge on Nov. 3.
The Tigers have the benefit of playing Alabama and Mississippi State at home, and they will have to go on the road to play Texas A&M, a team that has looked a little shaky as of late.
LSU still needs a little help, but it should feel fortunate to be the highest-ranked team with a loss.
If LSU is in good shape, that means Kansas State is in even better shape, because it has yet to drop a game and is above the Tigers in the BCS rankings.
The Wildcats also play in an easier conference, albeit not by much. They will be tested the rest of the way, including next week when Kansas State must travel to Morgantown to take on a potent West Virginia offense.
But if Bill Snyder can lead his team out of that shootout with a victory, look out. This team has a really good defense, especially for a Big 12 team, a conference notorious for its high-powered offenses.
Like LSU, Kansas State will need some help, but it has already knocked off Oklahoma on the road, and that might be the toughest team the Wildcats play throughout the entire regular season.
The Fighting Irish might actually be underrated, in this case.
Notre Dame has defeated three ranked teams already and has only allowed 8.7 points a game, good for second in the nation. How's that for impressive?
The Irish are the only team in the top five who has played more than two top-25 teams this season, although they have been hurt by the poor play of Michigan State and Michigan in the strength of schedule category.
This team will certainly be tested some more, with games at Oklahoma and USC remaining on the slate, but if Notre Dame can somehow get through those contests unscathed, it could mean a trip to Miami on Jan. 7.
Thanks to the "Notre Dame rule," the Irish are already in pretty good shape to reach a BCS bowl as it is.
There are three undefeated teams in the Big East. Yes, you read that correctly.
Rutgers, Louisville and Cincinnati are all without a loss through seven weeks, and yet, the highest-ranked team in the BCS standings from the conference is Rutgers—at No. 15. Louisville directly follows at No. 16, while the Bearcats are back in the 23rd spot.
Obviously, none of these teams have played each other yet, but it's possible one of them could run the table and finish the season undefeated. Even so, that likely won't be enough to get a Big East team represented in the National Title game.
It might seem harsh, but that's just the way it is. The Big East is not a good conference, and it should be fortunate to have an automatic representative in the BCS series in the first place.
Although the ACC gets more respect than the Big East, it's not by much. This isn't college basketball.
That doesn't mean this conference doesn't have some good football teams, but Florida State pulled a classic "Florida State" and lost a game it should have easily won two weeks ago at N.C. State.
Whether or not the Seminoles could have knocked off Florida on the final game of the season is a different story, but this team should have been undefeated heading into that clash. Plus, the game will be played in Tallahassee.
Florida State is ranked No. 14 in the opening BCS rankings, while fellow one-loss team Clemson earned a No. 19 ranking. It's probably safe to say the ACC will not get a team into the BCS national championship game, making it a three-way battle between the SEC, Big 12 and Pac-12.
As mentioned before, the SEC has six teams in the top 12, with each team having a legitimate shot to not only play in a BCS bowl game but possibly the national championship game.
It's almost a guarantee that the SEC will get one team into the title game, so now, it's just a matter of trying to take both spots, just as it did last season with Alabama and LSU.
Remember—Bama doesn't have to play the Gators during the regular season, so it's conceivable that these two teams could be undefeated heading into the SEC championship game. Depending on how things shake out, those teams could then play again in the title game.
But, let's not get too far ahead of ourselves. There's plenty of football yet to be played.
This leads us to the final slide.
Based on the teams ranked near the top of the standings, there is going to be plenty of moving around within the next couple of weeks.
Alabama plays both LSU and Mississippi State within the next three weeks. Oregon plays No. 10 USC in three weeks, as well, while in two weeks, No. 8 Oklahoma hosts Notre Dame. Kansas State has back-to-back games against ranked opponents upcoming, and the same goes for Florida.
By early November, things are going to look a lot different, and we'll see what teams emerge from these difficult matchups. It should be exciting to watch how it all unfolds.