The media bias towards USC is pretty clear to me, having been raised in the midwest before moving to LA.
1) 1 out of every 8 Americans lives in the state of California, most of them in the southern half. There is always media favoritism towards major metropolitan areas, and Los Angeles is the largest sports market in the country, and probably 100 times bigger than any other college town.
2.) Celebrity culture- Lakers and Trojans have a Hollywood fan base, and that of course drives up interest in watching a game. Just read an article in the Times talking about how Denzel Washington, Snoop, Al Pacino, etc... have sideline tickets for the game. TV viewers and sports reporters love that stuff, even if it is completely meaningless.
3.) Obvious cultural clash between the two schools and the two programs- especially between the two head coaches. I mean, nerdy, Sweater Vest Guy, or Golden Boy Surfer Guy- it's obvious who the media prefer to talk to and about.
4.) Style of play- power running and solid defense might win a lot of games, but it's not the type of football that the modern fan and media necessarily want to see. I know that OSU has a lot of offensive talent and they do a lot of different things, but the perception is that they are a completely one-dimensional, WWI trench warfare type of team. The media gives love to Mizzou, Texas Tech, Florida, etc... because they have fast, exciting offenses. Until OSU goes to the spread option (which is not completely out of the question next year- but that's an entirely different thread...) I don't think national media will give them a lot of respect.
I know most OSU fans think the national perception of them going into this game is a result of the past 2 NC games, and that is certainly a large part of it, but I think it's really a combination of a lot of things, with actual performance being secondary to the reasons listed above.
I think I'm smart enough to recognize how dominant OSU is, and how consistently they win, but my only real beef with the school is this: what the hell exactly is a buckeye? I understand it's some kind of nut or dried fruit... if the mascots were required to battle it out, I think the crazy armored, sword-wielding guy on the horse at USC would probably beat the hell out of the, um, nut(?) guy. Come to think of it, I don't know if there's anybody that wouldn't wipe the floor with the OSU mascot- with the possible exception maybe, of the drunk leprechaun at Notre Dame...?