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The BCS is what determines the national champion. I'm not saying its right, but the national championship is determined by the BCS national title game, whichever it is that year. LSU legitimately won that game against the team rated No. 1 from week 1 to like week 13 or something. USC won the Rose Bowl, which pitts the top Pac-10 and Big 10 teams together, and they won the AP Poll, but they weren't the official national champions.
The BCS had a legit national title game (legit in that both teams had the right to be there, USC probably did too), and LSU was the national champions. I don't think its fair to call USC national champions for that year, because they technically weren't. They finished atop a poll (albiet yes, the most accurate one), but they only won the Rose Bowl. So you can say that they were co-national champions maybe, but to call them national champions because they beat Michigan and won the AP poll is inaccurate.
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