I've been crunching the numbers and this is completely possible. Both teams would have one loss. Notre Dame's loss coming to the SEC champion, and Bama's lost coming to an average Big 12 team. Also, Notre Dame has played a tougher schedule than Bama. I don't think there's any doubt that Notre Dame passes the eye test better than Bama. They have an athletic quarterback who's mastered the "scheme," a tough running game, and a Heisman runner up anchoring the best defense in the country.
I think the pressure is on: Bama has to win, and win big, to bring home the crystal ball. And with Bama's anemic offense having to go head-to-head with the best defense they've seen in a decade, I just don't see that happening. T's & P's Bama fans (even the t-shirt fans), Notre Dame has this one wrapped up.