You beat me too it. If you look at the stats and the pace of Holmes in the last few years he would DESTROY any and all receiving records set by Glenn, Cart, Galloway, etc. People have been bitching about our offense all year...imagine where it would be without him.
Holmes isn't on the list for two reasons: (1) the poll was from last year (August 14th, to be exact), before Holmes truly emerged as a star; and (2) the poll specifically excluded current players.
As far as Holmes being able to "DESTROY" Ohio State's receiving records, consider this:
Holmes's career stats through last week: 126 receptions for 2,040 yards
Ohio State record for receptions (Boston): 191 (in three seasons)
Ohio State record for yardage (Jenkins): 2,898 (Boston had 2,855 in three seasons)
In order to catch Boston for total receptions, Holmes would need to return for his senior season and then average four catches per game (16 games - 3 in 2005, 12 in 2006, plus 2006 bowl game); to catch Jenkins for total yardage, Holmes would need to average about 54 yards per game over the same 16 games. Obviously, Holmes could easily accomplish those goals, but it would take much greater production to "DESTROY" the OSU record book.
BTW, Holmes's three-year numbers are rather dwarfed by Boston's (191 receptions for 2,855 yards) and Carter's (168 receptions for 2,725 yards). If either/ both had stayed at Ohio State for a fourth season, then he/they would have set records which Holmes would probably be unable to equal, regardless of how productive he might be for his (hypothetical) senior season.
That being said, Holmes has certainly established himself as a Buckeye great, but he's not quite in the Boston-Carter-Jenkins league just yet; IMO, he compares favorably to Terry Glenn, Joey Galloway, Gary Williams, and Doug Donley, which is quite good company.