That makes no sense. The rankings have nothing to do with how good the teams are, it is a ranking of the relative difficulty of their opponents. Therefore, those teams could all suck, but play great schedules. The fact that you play them has no bearing on the relative difficulty of your schedule. You did not take logic in college, did you?
By the way, the reason Alabama is not higher is the fact that they have a great home schedule with all their big games (sans one) in Tuscaloosa.
Absolutely! No one playing everyone in their conference plus Boise State, Ohio State, Syracuse, and Hawaii should be considered as having a tough schedule. And any Pac-10 team next year that plays all 9 of their conference opponents plus Virginia, Ohio State, and Notre Dame should not be ranked #1 either.