One could easily argue that we should be #3 ahead of Oregon. Oregon lost to Arizona, who has two losses and plays what appears to me as a relatively easy schedule. Oregon is the only good win they have, having lost to both USC and UCLA.
But our loss was more recent, even if it was to the now #2 team in the nation. As easy as FSU's schedule is, and since they're undefeated you can't really expect them to drop below us or out of #1 at the moment. Maybe Florida will take care of them and let Muschamp go out in a blaze of glory ....