I'm not advocating a "just fade the public" strategy, but the is a lot of value in taking the other side when the public pushing a line up a couple points.
On another site, there is a thread that tracks the "Mr. Obvious Play of the week". The losing record of the "Mr. Obvious" plays is incredible.
Last week, the Mr. Obvious plays (picked prior to the game of course) were:
Texas A&M - loser
Oklahoma - loser
Clemson - loser
Northwestern - loser
Michigan - loser
Baylor - loser
No Illinois - loser
Miss State - loser
In Week 6, the Mr Obvious plays were:
Texas - loser
South Carolina - loser
Maryland - loser
UGA - loser
Week 5:
Ga Tech - loser
Wyoming - Loser
Ohio St - loser
Ole Miss - loser
The week 8 list isn't final, but Miami is one of the Mr Obvious picks.
I bet on Clemson, but I would think that's a Mr. Obvious pick as well.