Nebraska would have murdered them.
To develop this point a little bit more - and it is well-known here that I am NO Nebraska apologist - consider:
NEBRASKA OPPONENTS TOTAL DEFENSE:
Kansas State (10-1) - 256.8 ypg, 14.5 ppg - Nebraska drilled them for 56 points and 473 total yards in a game that was over before the 4th quarter began
Texas A/M (9-4) - 315.1 ypg, 17.3 ppg - Nebraska smashed them for 54 points and 536 yards despite the game being over well before the end of the first half (37-3 halftime score)
Tennessee (11-2) - 334.8 ypg, 20.3 ppg - Nebraska bludgeoned Peyton and Phatimus for 42 points and 534 yards
Those are the 3 best defenses on decent teams Nebraska played, and they massacred them for 152 points and topped all three average yards surrendered by
MORE THAN TWO HUNDRED YARDS EACH.
The "tough" Big 10 went 2-5 in bowls that year, Michigan scraping by (admittedly a decent) Wazzu team with Ryan Leaf and Purdue beating the Pokes by 13. Yeah, the B12 went 2-3, winning two Bowl Alliance games in blowouts. And while I know you cannot use the transitive property to argue,
it gets more realistic when you have multiple cases.
K-State massacred Syracuse, who clobbered Wisconsin, who kept the Michigan game at ten.
Washington absolutely murdered Michigan State, who only lost to Michigan by 16.
Nebraska beat Washington by two TDs in Seattle in September.
Washington also played Wazzu to within 6 and Michigan beat Wazzu by 5.
Bear this in mind: Washington State (for the most part) outplayed Michigan. Ryan Leaf shredded their Heisman Trophy defensive winner for 331 yards. Michigan AVERAGED giving up 8.9 ppg - and Wazzu doubled that. Michigan AVERAGED giving up 206 ypg - and Wazzu nearly doubled that, too. Now...Michigan DID hold Wazzu (42.5 ppg) well below that total, but those numbers were drastically inflated by a 77-7 win over SW La, a 58-0 win over Boise St, and a 63-37 drilling of 3-8 Cal. Nebraska AVERAGED their total almost every game, Wazzu didn't.
Personally, I thought Florida and Florida State were the two best teams in the country, but Florida had a monumental letdown against LSU (DiNardo's great win) and FSU buckled in the 2nd half against the Gators. Michigan was probably no better than 4th or possibly 5th that year.
Throw in the fact Osborne was retiring and would have motivated them........