First, lets take a look at the average/high/low rating across all of the conferences using my computer ratings as a reference.
So the SEC was far and away the best conference based on average rating with a 4.5 point gap to the #2 Pac-10. I think most would be surprised the Pac-10 is #2 ahead of the Big-12 especially given the Big-12 is ahead in both the high and low ratings. But the Pac-10 has strength in the middle and only has the single outlier in WSU at the bottom. It is also interesting that the 6 BCS conference are well ahead of the rest, although the Big-Televen is hovering in no mans land well behind the top-5 conferences.
Another way of looking at it is to just rank each conference in all their non-conference games. Doing that results in:
This also has the SEC with a clear lead, but this shows us several very interesting observations.
The SEC has a clear gap to #2 Big-12 and does so with a very good 42-6 record out of conference, but does it again the weakest opposition of any conference. This supports the perception that the SEC schedules a bunch of cream-puffs out of conference.
The second weakest schedule goes to the Big-Televen just edging out the Big-12. So these conferences also do a good job of scheduling patsies. The strongest schedule amongst the BCS conferences by a wide margin goes to the Pac-10, so they would seem to schedule the fewest patsies.
This method does have the Big-12 at #2 and the Pac-10 drops to #5 though. The Big-Televen does remain #6 as the weakest BCS conference though. It's kind of ironic then that the Big-Televen gets 2 BCS bowl berths then!