The fact is that FBS has 128 teams in it and the difference between the top teams and the lower teams is far greater than in any professional sport. Because of this some subjective evaluation is required. Comparing records made against wildly different levels of competition is foolish.
I believe the FBS has 130 teams, but what you said about going 12-0 in a weaker conference as compared to one of the stronger conferences is correct. Just look at the Fiesta Bowl last year. UCF (USA Conference) had the longest winning streak in the country (25) and was 12-0, but they got dominated by LSU (SEC Conference) at 9-3. The score wasn't that lopsided, but anyone that saw the game knew that UCF was basically 'out of their league".
