Oklahoma
USC
Florida
Texas
Alabama
Penn State
Texas tech
Ohio State
Cincy
Utah
Even if USC is better I don't think they deserve to play in the championship. Florida, Texas, and Oklahoma all have better resumes based upon the teams they beat.
I used the AP poll to indicate rankings:
Oklahoma victories against top 25 teams: Texas Tech (8), TCU (11), Cincinnati (12), Oklahoma State (13), Missouri (25)
Texas victories against top 25 teams: Oklahoma (2), Oklahoma State (13), Missouri (25)
Florida victories against top 25 teams: Alabama (4), Georgia (16), Florida State (29)
USC victories against top 25 teams: Ohio State (10), Oregon (15)
Penn State victories against top 25 teams: Ohio State (10), Michigan State (19), Oregon State (24)
The sad reality is of the BCS instead of a playoff system is that if your conference is down or you have a light non-conference schedule you need to go undefeated to ensure a position in the National Championship game.
Having watched the Cincinnati versus Hawaii game on Saturday I definitely disagree that they belong in the top 10. Without a doubt TCU belongs more highly ranked than Cincy and I would probably put Georgia Tech and Oregon in front of them too. It is also hard to ignore a 12-0 Boise State team.