Sagarin has the Big 12 ranked 2 in Power 4 conferences. Which means the CFP committee should be giving Big 12 teams the second most forgiveness for losses.
If a 3 loss SEC team should be able to make the CFP then a 2 loss Big 12 team should before a 2 loss Big 10 team (looking at you OSU). And the gap from Big 12 to ACC is nearly as large as the gap between SEC and Big 12. So definitely no 2 loss ACC team should be in. Maybe a 2 loss Big 12 team deserves to be in over a 1 loss ACC team (e.g. BYU over SMU).
Based on actual resume and not name recognition, we have the 12th best resume in the country. Better than any other team in the Big 12.
I believe we should be ranked ahead of Iowa St, Ole Miss, Miami, South Carolina, ASU, ohio st, Boise, and maybe notre dame and Indiana (I know ASU beat us, but I think we are the better team, and I left SMU ahead of us too. If the ASU game went another quarter we would have beat them.).