No, Texas is not good. Just because they have beaten an Oklahoma, Missouri, and Oklahoma St. teams when they were ranked high does not make them good. They are a product of a weak conference. If the gators palyed in the Big 12 and had a weak non-conference schedule, we too would be ranked #1 in the BCS.
"Outrageous claims require outrageous evidence."
If the Big 12 is a weak conference, what about the Big East, Pac 10, Big 10, and ACC?
Missouri easily handed a good Arkansas team a loss last year in the Cotton bowl. Texas absolutely crushed Missouri this year which was arguably a similar team Missouri team, ie it's not like Hawaii where they lost EVERYbody.
If you want to say the Big 12 is weak, you need some evidence. You have none. As for a weak out of conference schedule, ours has been pretty weak so far as well, although not at weak as usual.
And perhaps you're right: OU, Ok. State, Missouri, etc. are overrated teams. But then how can you defend our key wins like LSU, UT, and UK? LSU, as everyone now knows is extremely overrated. Tennessee is freakin' awful, and when we beat Kentucky last week, they were extremely depleted, not to mention had no shot at winning the SEC East.