Note: This was originally a comment in the Iowa-Sparty wrap-up post.  I just cut and paste here to allow for edits and to make it easier to find if it warrants any discussion. Bowl selection process, as outlined by Bama Hawkeye at OTE: Replacement for #1, Replacement for #2, Sugar, Orange, Fiesta

Initially, I typed up a hypothetical scenario in which Nebraska wins the BigXII and Iowa is chosen as the third at-large, but quickly realized it’s not going to happen. If we get the chaos necessary to limit the replacement selections to one, an at-large Iowa would likely go to New Orleans to play SEC Champ South Carolina (Yeah, I went there.) or back to Miami to play ACC Champ VA Tech. The Fiesta gets stuck with BigEast Champ v BigXII Champ Nebraska.

The chaos scenario in bullet points:

• Auburn beats Alabama to win the SECW but loses to South Carolina in the SECCG.
• Oregon continues to run over everyone and Arizona gets the Rose Bowl bid as the Pac-10 number 2.
• TCU jumps Boise in the polls and finishes as the BCS #2
• Iowa wins out, Wisconsin does not lose and Sparty represents the BigTen in the Rose
• Nebraska defeats OU in the BigXII title game
• Iowa chosen as the first at-large over Wisconsin & Oklahoma for no good reason (shameless homerism / S.Carolina re-match storyline?)
• VA Tech and Pitt win the shit shows that are the ACC and Big East
• Boise falls out of BCS top 4

If all goes to plan, the bowls shake out as follows:
mNC – Oregon v TCU
Rose – Arizona v Sparty
Orange – VA Tech v OU
Sugar – South Carolina v Iowa
Fiesta – Nebraska v Pitt

Simplified bowl selection process and (choices per ridiculous hypothetical)

Replacement for #1 (Arizona)
Replacement for #2 (n/a)
Sugar: SEC Champ + (Iowa)
Orange: ACC Champ + (Oklahoma) 
Fiesta: BigXII Champ + (Big East Champ)