I think Utah deserves a bid, but partly because I hate UT.
If USC, OU, Auburn, and Wisc all finish undefeated, then hopefully it spurs a debate over a 4 team playoff system.
Right now I think the following will happen:
OU defeats USC in the Orange Bowl and become National Champs
Auburn crushes Texas in the Sugar Bowl
Cal over Wisconsin in the Rose bowl
Virginia over West Virginia in the Fiesta
Depending how close the gap between Auburn and OU is going into bowl week, we could see a split le between Auburn and OU if the Tigers really crush UT (which I think they would).