Historically the loser of a conference championship game has not received a BCS berth, yet pundits across the board are using Florida and Alabama interchageably in the BCS Championship Game and Sugar Bowl. One of those teams will lose in Atlanta.
For example last year Missouri went into the Big 12 Championship game ranked #1 and with one loss. After losing to Oklahoma for a second time the Tigers (still ranked in the Top 5) were shipped off to the Cotton Bowl in favor of Kansas going to the Orange Bowl. How is our scenario this year any different other than the fact that the networks are lining up to gush over Urban Meyer and Nick Saban?