As a fan I say, "Oh good grief, I hope not!"
To have the entire college football nation scream out against a 'Bama-LSU rematch, just to have them vote to see a game they JUST SAW in early December would peeve me, to say the least.
That said, if it's a close game like the 'Bama-LSU November showdown, I could see the argument taking shape that, "At least they won their division."
Georgia has proved itself week after week after those initial two losses. Georgia is currently sitting at the No. 13 spot in the BCS standings. A win over LSU in the SEC championship would launch them headfirst up the standings to the top-ranked, two-loss team, which would be at No. 8 behind Houston. In all actuality, I believe they would jump Houston due to strength of schedule.
Right now, that has them at No. 8 behind LSU, 'Bama, Arkansas (assuming they aren't already behind GA after the LSU beat-down), Oklahoma State, Virginia Tech, Stanford and Boise State.
Now, to compare the teams that are ahead of them. Boise State beat them in the season opener. Boise State lost to TCU, while Georgia would have beaten LSU, so Georgia jumps Boise with the quality of win.
Stanford took an "unranked" USC team to triple overtime and won but turned around and lost to Oregon. LSU beat Oregon, Oregon beat Stanford, and in this article, we assume that Georgia beat LSU. LSU is better than Oregon, who is better than Stanford, therefore, Georgia jumps Stanford.
Virginia Tech is next. Quality of win in the SEC championship is no match for Virginia Tech, even if they beat Clemson. Clemson lost to South Carolina, who didn't make the SEC championship. That win won't be enough to stop Georgia's rise.
Oklahoma State saw a loss at the hands of Iowa State. I don't see the voters forgetting that, especially if the "Cinderella" Georgia is vying for the BCS title game. The computers scare me with their Oklahoma State fetish, but in the end, the voters make up two-third of the BCS formula. Georgia moves above Oklahoma State to spot No. 4.
Arkansas lost to LSU AND 'Bama. Georgia should already be close to them in the next BCS standings. If they are closely behind, they'll jump with an SEC championship victory. Georgia now theoretically sits at No. 3, behind 'Bama and LSU.
Out of the top three teams then, you would have 'Bama with one loss to LSU, LSU with one loss to Georgia and Georgia with two losses before the sun really rose on the season.
At that point, it would be up to the voters and "the buzz." If the fanbases are screaming, "You CAN'T let someone who didn't play in the conference championship into the game," and the voters listen, you have a Georgia-LSU rematch.
If you look at quality of losses, Alabama would jump LSU after their loss to Georgia. If you look at quality of win, Georgia jumps LSU because they won the SEC.
Therefore, if Georgia wins the SEC, we could still possibly have an all-SEC title game, which could look like any one of these games:
Alabama vs. Georgia, because LSU lost to an "inferior" team than Alabama is.
Georgia vs. LSU, because 'Bama didn't play in the conference championship.
LSU vs. 'Bama, because there's no swaying the voters, they have already made up their minds.
My advice to Georgia is this, "If you're going to beat LSU, do it by 10 or more points. Knock them out of the top three and you have a shot at the title."
I think voters are looking for a reason not to rematch 'Bama and LSU. Give them an option to vote UGA into the title game, and they may just pit you against 'Bama to avoid the rematch fallout. (That's the only option that's not a replay.)