Looking at the bowl projections here:
People are saying Fiesta Bowl against Ohio State. Ohio State has had a bad year with losses against Penn and USC, but those are two pretty high caliber losses. Especially since in the game against USC, Ohio hadn't selected a quarterback and had their Heisman quality RB injured. And against Penn they lost on the last drive of the game.
Of course, Boise State is undefeated and in contention for the same BCS At Large Bid.
Who would the longhorns rather play in the Fiesta Bowl? A two loss OSU or an undefeated WAC Boise State that dropped OU in its last appearance.
I think Ohio State gets it anyway because of the money involved... OSU travels really well.