The list below is sorted by "underratedness." The teams at the top of the list were the most underrated (final poll standing furthest above preseason poll standing); the teams at the bottom of the list were the most overrated (final poll standing furthest below preseason poll standing). Any team not mentioned was unranked in both preseason and final polls.
| Team | Delta | Preseason Consensus |
Final AP Standing |
| Iowa | +18 | - | 8 |
| Washington State | +17 | - | 9 |
| Miami-Ohio | +16 | - | 10 |
| Mississippi | +13 | - | 13 |
| Louisiana State | +12 | 14 | 2 |
| Boise State | +10 | - | 16 |
| Southern California | +10 | 11 | 1 |
| Nebraska | +6½ | 25½ | 19 |
| Minnesota | +6 | - | 20 |
| Utah | +5 | - | 21 |
| Clemson | +4 | - | 22 |
| Florida State | +4 | 15 | 11 |
| Bowling Green | +3 | - | 23 |
| Georgia | +3 | 10 | 7 |
| Purdue | +2 | 20 | 18 |
| Michigan | +1 | 7 | 6 |
| Texas Christian | +1 | - | 25 |
| Maryland | 0 | 17 | 17 |
| Arizona State | -½ | 25½ | - |
| Florida | -½ | 23½ | 24 |
| Miami-Florida | -2 | 3 | 5 |
| Ohio State | -2 | 2 | 4 |
| Oklahoma | -2 | 1 | 3 |
| Tennessee | -2 | 13 | 15 |
| Alabama | -2½ | 23½ | - |
| Oklahoma State | -4 | 22 | - |
| Wisconsin | -5 | 21 | - |
| Virginia | -7 | 19 | - |
| Kansas State | -8 | 6 | 14 |
| Notre Dame | -8 | 18 | - |
| Texas | -8 | 4 | 12 |
| North Carolina State | -10 | 16 | - |
| Washington | -14 | 12 | - |
| Pittsburgh | -17 | 9 | - |
| Virginia Tech | -18 | 8 | - |
| Auburn | -21 | 5 | - |