It's no surprise to see Penn State, even after such a big win, remain a distant #3 in the BCS Standings. The win did, however, fix the "Oregon State Bug" that had Penn State ranked #7 in the computers behind Ohio State (#5), who was somehow ahead of USC (#10). This week Penn State moves up to #3 in the computers, USC is at #6.
Penn State is #3 in both human polls as well as all but one computer ranking. Richard Billingsley is the exception, putting PSU at #2, however because the highest and lowest ranking are thrown out in the average, the computers align perfectly with both human polls in spots 1-3.
There is an awful lot of noise about the merit of Penn State's MNC hopes; Rivals and the LA Times released stories in less than 24 hours. It probably would have been sooner except that they had to do a search/replace, taking out OSU and putting in PSU, in what were probably stories written right after the week three OSU@USC game.
Guess what? It doesn't matter.
Penn State sits at #3 in the BCS standings and if they win out, there is no way a one loss team will jump them. Not. Gonna. Happen. A Texas or Bama loss puts an undefeated Nittany Lion team in the championship game. Period. No amount of whining from journalists with failed logic is going to stop it. This is a great Penn State team and I'm very excited about the things they will be given a chance to do.
Update: While I still maintain that the above linked arguments are a futile effort, Graham at The Rivalry, Esq. writes a nice rebuttal worthy of a read.