The list below is sorted by "underratedness." The teams at the top of the list were the most underrated (final poll standing furthest above preseason poll standing); the teams at the bottom of the list were the most overrated (final poll standing furthest below preseason poll standing). Any team not mentioned was unranked in both preseason and final polls.
| Team | Delta | Preseason Consensus |
Final AP Standing |
| Central Florida | +20 | - | 6 |
| Notre Dame | +15 | - | 11 |
| Texas Christian | +14½ | 23½ | 9 |
| Georgia | +14 | 16 | 2 |
| Michigan State | +11 | - | 15 |
| Northwestern | +9 | - | 17 |
| Mississippi State | +7 | - | 19 |
| Boise State | +4 | - | 22 |
| Miami-Florida | +4 | 17 | 13 |
| Clemson | +3 | 7 | 4 |
| North Carolina State | +3 | - | 23 |
| Oklahoma | +3 | 6 | 3 |
| Wisconsin | +2 | 9 | 7 |
| Memphis | +1 | - | 25 |
| Alabama | 0 | 1 | 1 |
| Auburn | 0 | 10 | 10 |
| Penn State | 0 | 8 | 8 |
| South Florida | -1 | 20 | 21 |
| Tennessee | -1 | 25 | - |
| Oklahoma State | -2 | 12 | 14 |
| Kansas State | -2½ | 23½ | - |
| Ohio State | -3 | 2 | 5 |
| Texas | -4 | 22 | - |
| Virginia Tech | -5 | 19 | 24 |
| Washington State | -5 | 21 | - |
| Stanford | -6½ | 13½ | 20 |
| Louisiana State | -7 | 11 | 18 |
| Southern Cal | -7 | 5 | 12 |
| Louisville | -8 | 18 | - |
| Florida | -11 | 15 | - |
| Washington | -12 | 4 | 16 |
| Michigan | -12½ | 13½ | - |
| Florida State | -23 | 3 | - |