They might be. We'll soon find out as nine of their teams will play in Bowls. In past years we've seen that the conference looks good in November only to find come Bowl season that they don't play defense.

The Pac-12 is what we thought it was back in August -- as deep and as good as it's been. Probably ever.

Before the season, five Pac-12 teams were ranked. As we head into the final weekend of the regular season, five Pac-12 teams are ranked. Nine Pac-12 teams are bowl-eligible, the most in conference history. It's the same number as the 14-team SEC, which has six ranked teams.
http://espn.go.com/blog/pac12/post/_...espnapi_public

Even now 6-5 Wash St nearly beat Auburn way back in Sept if not for 3 turnovers.