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 |
| Utah | +24 | - | 2 |
| Texas Christian | +19 | - | 7 |
| Alabama | +18 | 24 | 6 |
| Boise State | +15 | - | 11 |
| Penn State | +13 | 21 | 8 |
| Mississippi | +12 | - | 14 |
| Oregon | +12 | 22 | 10 |
| Oklahoma State | +10 | - | 16 |
| Cincinnati | +9 | - | 17 |
| Oregon State | +8 | - | 18 |
| Iowa | +6 | - | 20 |
| Texas | +6 | 10 | 4 |
| Florida State | +5 | - | 21 |
| Florida | +4 | 5 | 1 |
| Georgia Tech | +4 | - | 22 |
| Michigan State | +2 | - | 24 |
| Virginia Tech | +1½ | 16½ | 15 |
| Southern Cal | 0 | 3 | 3 |
| Texas Tech | 0 | 12 | 12 |
| Oklahoma | -1 | 4 | 5 |
| South Carolina | -1 | 25 | - |
| Wake Forest | -3 | 23 | - |
| Illinois | -6 | 20 | - |
| South Florida | -7 | 19 | - |
| Ohio State | -8 | 1 | 9 |
| Tennessee | -8 | 18 | - |
| Arizona State | -9½ | 16½ | - |
| Brigham Young | -10 | 15 | 25 |
| Georgia | -11 | 2 | 13 |
| Kansas | -12 | 14 | - |
| Missouri | -13 | 6 | 19 |
| Wisconsin | -13 | 13 | - |
| Auburn | -15 | 11 | - |
| West Virginia | -16 | 7 | 23 |
| Louisiana State | -17 | 9 | - |
| Clemson | -18 | 8 | - |