If Texas beating Michigan is impressive (with that partially blocked field goal scraping paint on the cross-bar!) is Notre Dame beating Michigan this year impressive to you? And for that matter, is Notre Dame beating Tennessee at Tennessee impressive too?
Without a playoff, though, it's all meaningless. Nothing is really settled.
What is reasonably certain is that the gap between the BCS conferences and the rest is much less than 20 years ago. Big schools lose to MWC and MAC teams now more than they used to. The Sun Belt still stinks, though.