USC may finish second, may not. They still have very tough games against Stanford, Oregon and Washington. You can bet they lose all of those. That will put them in a tie with Utah (assuming Utah wins out).
So realistically, I see the Pac 12 stacking up like this (for this season):
Stanford, Oregon, ASU, Washington, USC, Utah.
So even if Utah doesn't pass USC, they are still in the top half of the conference. Not too shabby considering all the injuries. What it says to me is: even a banged up Utah team that played the worst ball we have seen from a Utah team in many years, is still one of the better teams in the Pac 12.
Haters look at that and say "they sucked like everyone expected them to" but I just don't see it that way. Being one of the better teams in a legit BCS conference, even though they've had major injury problems all season, is pretty dang good.