Alabama and the Big 12 (OU and Baylor) just got a huge boost from the Oregon loss. The PAC12 took a huge hit in terms of playoff implications.
Utah still has a good shot if they win out but if Oregon comes back and wins the conference (which is entirely possible) it will eliminate the PAC12 from playoff contention. I still think Alabama is on the outside looking in regardless, it's likely that OU or Baylor will leapfrog them after the conference championship games, at least in my mind.
Possible flies in the ointment are Wisconsin/Minnesota winning the Big10 or Georgia winning the SEC. That's assuming OSU and LSU would have that game as their only loss.
And this is why college football is awesome:
http://www.espn.com/video/clip?id=28148648