USC has been the most dominant program in CFB the last few years combined. (duh) I think 99% of CFB fans would agree. With that said.........
This year USC had close games @Oregon (half), @Arizona St., @ND, and Fresno St.
Last year USC had close games @V-Tech, @BYU (half), @Stanford, CAL, @Oregon St., and @UCLA.
In 2003, USC had close games againt BYU, lost close game @CAL in triple OT, and @Arizona St.
In 2002 USC had close games against AU, lost @Kansas St. by 7pts, lost @Washington St. by 3pts in OT, and CAL.
I think ND is heading in the right direction and will have similar success as USC. The problem ND will face is they play USC every year and USC will also have to battle it out with ND. The rivalry once again will cost each school National Championships. Just like it used too. If you call ND over-rated, then based on the same criteria I just posted, USC teams during this dynasty have been over-rated as well.

We all know that is not true. ND is not over-rated. They get everyones best shot just like USC. That makes it very difficult to win convincingly week in week out AND both programs play tough schedules every year!
BTW, why not give Stanford respect for competing with ND.