After looking at it all, I think our main threat comes from a 1-loss Pac-12 champion:
Here's the list of 0- or 1-loss teams not named GA or OH St., along with the FPI of their remaining opponents.
- Ole Miss (8-1). FPI = 14.3. Remaining opponent FPI of 44.7 (Bama, Arkansas, Miss St.). Ouch.
- TCU - (9-0). FPI = 13.5. Remaining opponent FPI of 41.6 (Texas, Baylor, Iowa St.). Ouch.
- Michigan (9-0). FPI = 23.5. Remaining Opp FPI of 36.1 (NEB, IL, OSU).
- Oregon (8-1). FPI = 15.7. Remaining Opp FPI of 30.7 (WA, Utah, Ore St.). Tough schedule.
- USC (8-1). FPI = 13.9. Remaining Opp FPI of 23.8 (UCLA, Notre Dame, misc). Tough schedule.
- Clemson (8-1). FPI = 17.0. Remaining Opp FPI of 13.7 (Lou, Miami, SC).
- Tennessee (8-1). FPI = 21.3. Remaining Opp FPI of -1.4 (Mizzou, SC, Vandy). Easiest remaining schedule of everyone.
Summary thoughts:
- Ole Miss and TCU will each lose once more and be out.
- Clemson can win out and still be left out of Top 4.
- A 1-loss Michigan (or OSU) team will still have a really high FPI/strength of schedule.
- Tennessee can win out, but their strength of schedule is going to really drop now.
- USC and OR each losing once more REALLY helps us.
- There are still some potential "Black Swan" events that could really help us - Michigan loses to IL (and then OSU), for example.
I think our main threat comes from 2 of USC, Oregon, or Michigan ending with one loss. Each of these could argue for a stronger recent schedule and get put at #4 with just one loss.
My final prediction:
1. Georgia (13-0 or 12-1)
2. Ohio State or Michigan (13-0)
3. Michigan or Ohio State (11-1, and with a better FPI than UT)
4. Tennessee (11-1). Only one loss, and with a slightly better FPI than a 1-loss Pac 12 champ.
5. Pac 12 champion with a 12-1 record (OR, UCLA, or USC).
Of course, the Committee might put this team at #4 to spread the interest.