USC and Oregon are still on a collision course for Nov. 3. Yet, both divisions appear to be much improved. And what's more interesting is the hierarchy shift in both the North and South that took place last week. Oregon State and Washington could be the top challengers in the North while Arizona State and UCLA look like the best bets to topple USC in the South. UCLA and Oregon State have must-win games this weekend, while Washington's season could be on the line in Eugene.

This league seems to get deeper and deeper each Saturday. After another stellar weekend of action out West, six Pac-12 schools now reside in the AP Top 25. Washington and UCLA slide into the rankings, while Arizona State is knocking on the door and Arizona is clearly another solid team. And as strange as it may sound, Cal might be the best 1-4 team in the nation.  

The 2012 season is turning into one of the best fans have seen out West in years and it has a chance to get even better. Oregon State and Arizona State made huge statements last week, but both have huge road tests this weekend that will prove if they belong in conference contention. Otherwise, all eyes across the college football world should be on the Pac-12 this Thursday evening.

Pac-12's Top Storylines to Watch in Week 5:

Oregon and USC used stellar defensive performances to get key home conference wins. Oregon State and Mike Riley shocked the country once again with an upset win over a ranked opponent — this time on the road — as the Beavers have added their name to the crowded North Division race. The Colorado Buffaloes got what could be its first and only win of the 2012 season in stunning fashion. But the most startling performance of the weekend has to go to Todd Graham and the Arizona State Sun Devils.

The Heisman Trophy isn’t the only award worth watching on a weekly basis. The Lombardi, Outland, Davey O’Brien and Biletnikoff races are all worth watching and debating as the season goes along.

Throughout the season, we’ll keep an eye on all the prominent position trophies through college football in addition to the Heisman.

If you’re looking for our thoughts on that other trophy, check our weekly Heisman poll [34].

The Pac-12 is a really good football league. And while Arizona State and Cal barely missed huge upset wins on the road in the SEC and Big Ten respectively, the league is still nipping at the heels of the SEC for national supremacy.

The Pac-12 continues to show its depth as the second-best league in the country. But it might have cost them a national championship contender. And Stanford was the culprit that both illustrates the strength of the league while also potentially knocking USC out of the BCS title game. The run the Cardinal are on against the Trojans is remarkable and will only make the North Division race that much more interesting. Meanwhile, the South Division just got extremely intriguing.

After two weeks of action, it has become clear that the Pac-12 is much better than originally believed. Week 2 featured landmark victories over major powers from the Big Ten (Nebraska, Wisconsin, Illinois) and Big 12 (Oklahoma State) as well as victories over the ACC (Duke) and Big East (Syracuse). However, the same couldn't be said for Pac-12 contender wanna-be's Washington and Utah — both of whom now need to pick themselves off the mat after crushing defeats.

Saturday was a celebration of Pac-12 football. Its electric, powerful high-flying offenses are clearly impossible to stop. The league went 6-0 against the Big Ten, Big 12, ACC and Big East over the weekend as defense was, once again, an after thought for the West Coast league. Five teams cracked the 40-point mark and UCLA was four points from being the sixth. The quarterback position is alive and well even after losing names like Luck, Thomas, Foles and Oswieler to the NFL.

The story in the Pac-12, at least until Nov. 3, will be attempting to compare Oregon and USC. These were arguably two of the best looking teams in the nation last weekend and, if anything, fans in Eugene should actually be more confident in their quarterback situation. While Chip Kelly and Lane Kiffin are seemingly on a collision course, four new head coaches attempted to kickstart their new tenures. Arizona State and UCLA obliged with force while Arizona slipped past Toledo in overtime, only further muddling the mix of teams behind the Men of Troy in the South.