Show me a season that had all but two teams in the country with at least two losses heading into the latter half of November...ever.
I don't think there has ever been one, although 1990 was close. But it's not the 'latter half' of November that matters, it's the end of the conference championship games, which didn't exist before. Although tOSU actually ending up BCS #2 after a loss to scUM is extremely unlikely, the extra games make it a remote possibilty.
Look at the AP poll at the end of the 1990 regular season. Then add an ACC championship game for Georgia Tech vs. Miami, and a Big-12 Title game with Colorado vs. Texas. It's probable that a tOSU team that had just 1 loss in its last game would have ended up #2 if Georgia Tech lost their CCG to Miami.
<TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR bgColor=#990000><TD align=right>
RK
</TD><TD width=15> </TD><TD align=right>
PVS
</TD><TD width=15> </TD><TD>
Team (FPV)
</TD><TD width=10> </TD><TD align=right>
Record
</TD><TD width=10> </TD><TD align=right>
PTS
</TD><TD width=15> </TD><TD>
Last Week
</TD><TD width=20> </TD><TD align=middle>
Wins
</TD><TD width=15> </TD><TD align=middle>
T25
</TD><TD width=15> </TD><TD align=middle>
T10
</TD><TD width=15> </TD><TD align=middle>
T5
</TD><TD width=15> </TD><TD align=middle>
#1
</TD></TR><TR bgColor=#fafad2><TD align=right>1.
</TD><TD align=right> </TD><TD align=right>1
</TD><TD> </TD><TD>
Colorado (42)
</TD><TD> </TD><TD align=right>10-1-1
</TD><TD> </TD><TD align=right>1,476
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#ffffff><TD align=right>2.
</TD><TD align=right> </TD><TD align=right>2
</TD><TD> </TD><TD>
Georgia Tech (16)
</TD><TD> </TD><TD align=right>10-0-1
</TD><TD> </TD><TD align=right>1,397
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#fafad2><TD align=right>3.
</TD><TD align=right>
</TD><TD align=right>5
</TD><TD> </TD><TD>
Texas (2)
</TD><TD> </TD><TD align=right>10-1
</TD><TD> </TD><TD align=right>1,338
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#ffffff><TD align=right>4.
</TD><TD align=right>
</TD><TD align=right>3
</TD><TD> </TD><TD>
Miami (FL)
</TD><TD> </TD><TD align=right>9-2
</TD><TD> </TD><TD align=right>1,303
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#fafad2><TD align=right>5.
</TD><TD align=right>
</TD><TD align=right>7
</TD><TD> </TD><TD>
Notre Dame
</TD><TD> </TD><TD align=right>9-2
</TD><TD> </TD><TD align=right>1,252
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#ffffff><TD align=right>6.
</TD><TD align=right>
</TD><TD align=right>8
</TD><TD> </TD><TD>
Florida State
</TD><TD> </TD><TD align=right>9-2
</TD><TD> </TD><TD align=right>1,196
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#fafad2><TD align=right>7.
</TD><TD align=right>
</TD><TD align=right>10
</TD><TD> </TD><TD>
Penn State
</TD><TD> </TD><TD align=right>9-2
</TD><TD> </TD><TD align=right>1,125
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR><TR bgColor=#ffffff><TD align=right>8.
</TD><TD align=right>
</TD><TD align=right>9
</TD><TD> </TD><TD>
Washington
</TD><TD> </TD><TD align=right>9-2
</TD><TD> </TD><TD align=right>1,117
</TD><TD> </TD><TD>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD><TD> </TD><TD align=middle>
</TD></TR></TBODY></TABLE>
And how Colorado got an NC with a loss, a tie, and a "should-have-lost to Missouri but didn't because of the 5th down" still bugs the hell out of me!