Well, I've been studying college football a lot this weekend between activities at the HOF, because my in-laws don't have cable (!), so I'll ad mine and people can fire away if they want:
Big Ten: Sleeper: Penn State: Yes, I am going way out on a limb for my alma mater (before OSU), but I think they have a good run left in a fairly wide-open league. Good talent at QB and RB combined with a more seasoned D leaves them with the possibility of winning 5 conference games, 7 overall, and finishing tied for third.
Dud: Tie: Wisconsin, Minnesota: Ironically, it seems Wisconsin is either a sleeper or a dud every season. When no one picks them, they go to the Rose Bowl, when they do they finish 2-6. People have attacked me for my Wisconsin stance on the board, but like it or not, Alvarez is 9-15 in the last 3 years (conference) with 2 teams that were thought to be title contenders. Minnesota is a nice team that can run, but they have yet to prove they can hang on to a big lead against a quality opponent or stop anybody meaningful when it counts. I like Minnesota to win 4 or 5 conference games, below expectations, and Wisconsin to win 3, maybe 4.
ACC: Sleeper: Maryland: Everyone seems to have them in the 5-8th place range, but coach Ralph knows how to win, and win a lot. He has also brought a few teams back from slow starts, like last year (0-2) to win 10 games. I think they could finish as high as 3rd, even in the new alignment.
Dud: Virginia Tech: Beamer ball has crashed and burned the last few years at the end of the season, and they don't have the paddycake schedule or joke of a conference to get off to a huge start. Look for them to finish between 6th and 9th in the ACC.
SEC: Sleeper: Alabama: Off of total just-below-death-penalty probation, the Tide is on the rise. They were competative last year, and they have 9 starters back on defense and a strong O-line, along with a returning QB. The Iron Bowl could be for second in the SEC West (or a tie for first if LSU trips one game).
Dud: Arkansas: Return virtually no starters (only Matt Jones on O, 4 defenders) from a team that won 2 OT games and beat Texas last year. Look for a plummet to 4-7, and a pasting by Texas.
PAC10: Sleeper: Washington State: I don't consider Cal a sleeper, because virtually everone (including this board) thinks they'll be USC's biggest challenge this year. Wazzou is the forgotten team, but with a strong O-Line, they will stay in games late. If the D can gel, they could steal third from Oregon.
Dud: UCLA: Perhaps the mighty haven't fallen as far or as hard as they have at UCLA, where the perrenial Rose Bowl favorites have resorted to scratching for 6-5 seasons every third year. A tough schedule and losing 5 of their front 7 leaves them 7-9 range in the conference.
BigXII: Sleeper: Texas Tech: Spread U is back with a new QB, but they also have 9 returning defensive starters and their special teams in tact. They have 4 returning starters on the O-line, and seem to beat someone good, even in down years. They could easily be in it to win 8 games and sneak to third in the loaded South.
Dud: Missouri: Yes, I know, Brad Smith, blah, blah blah, blah blah. He has beaten exactly 2 teams that have gone to any Bowl in 3 seasons. They do return 9 defensive starters, but their O-line has to be rebuilt, and SMith may get to NY for the Heisman presentation by running for his life. Some pubs have them winning the division: I see them winning 6 games.
BigSuck: Sleeper: UConn, absolutely. BC is picked 2nd generally, but UCONN has the schedule where they basically get 4 wins by virtue of a joke of a non-conference schedule. Make no mistake, with that QB, and that O, they can give the big boys fits too. Look for them to take 3rd in the Big Suck in a surprise, and make a decent Bowl game.
Dud: Syracuse: It's all over for coach Paul, as the Orange have fallen beyond repair, at least by him. Absolutely no chance of winning 6 games.
Other teams to watch: Tulsa, San Diego State, South Florida, Central Florida, Akron: All these teams have potential to make noise in their conferences this year. If Akron played in the other division, they would win it outright or finish 2nd.
Other teams that could suck: Notre Ass, Miami, Northern Illinois, Hawaii: Now don't get mad, the only team on this list I hate is, well, take a guess, but I see a good fall from the 2 MAC teams this year, and Hawaii will not make their own Bowl game this season.
Winners:
Big Ten: OSU
SEC: LSU
ACC: Miami
BigXII: Oklahoma
Pac10: USC
BigSuck: Inbreds