Head to head wins don't always make sense, guys. Remember in 2008, when we lost to Northwestern, had the same record, yet got selected before them? They'll take who they feel is going to bring the most fans and money. Michigan and PSU have larger fan bases than ours, and they do travel.
That being said, Iowa's not a bad draw, and I wouldn't be shocked or upset if we still landed in the Outback.
Of course, all this could have been avoided if we had just finished up the regular season 9-3 or even 8-4...