The Rebs, though not an elite program, did have close to an elite year. The 03' Reb squad was perhaps the best Ole Miss team in decades. Unfortunately, Ole Miss played the best Memphis squad in decades and played the best LSU squad in decades.
Anyway, had Ole Miss encountered a typical Memphis program and most any other LSU squad of the last 3 decades, the Rebels may have had that special season. Last season, the Rebels lost a shootout with Memphis and played LSU to the wire. The Bluff City Tigers finished with 8 or 9 wins, and the Bayou Tigers took home the national title.
I agree that Ole Miss will likely return this season to something more of an 8-4 program than a national title combatant.
Perhaps not too uncoincidentally, the UT program has become highly beatable since Cutcliffe's departure to Ole Miss following the 98' season. There have been no other meaningful changes to the UT staff and recruiting continues at the highest level. However, during the post-Cutcliffe era, the Vols are 46-17 (.73), 1-4 in bowl games, 1-4 against UGA, 2-3 against UF, and 1-2 against LSU. No SEC titles and some shameful bowl performances.
In the 5 years concluding with Cut's departure, the Vols were 53-9 overall (.85), 4-1 in bowl games, 4-1 against Bama, 5-0 against UGA, 2 SEC titles, and a national title. The only real lowpoint was the 1-4 record against UF during this span.
I am not sure I am ready to conclude that the erosion of the Vol program to a position of competing for the title of "best of the rest" (below LSU and UGA) lies squarely with Cut's departure, but the facts would seem to support that, at a miminum, his departure has contributed to UT's inability to play championship level football.
By the way, UT travels to Oxford this fall to play Ole Miss. Fulmer and Cutcliffe finally meet as head coaches.
By the way again, I am sure all on this site are aware the Cut signed to play football for Bama and is a Bama grad.