I think we might be seeing the light at the end of the tunnel of the SEC era in college football. They're still good, don't get me wrong, but conference power is cyclical and I think the end of SEC dominance is near. My money is on the Pac-12 to be the one to step up.
I don't think any conference will rise to where the SEC was. The BCS system helped the SEC stay at the top. For instance this year, it would have been Alabama vs FSU for the NC and Alabama would have killed FSU and then the SEC folks would have had their chests out about another national title.