Granted I attended the University of Southern California and I am a trojan fan by heart, I still cheer for Iowa everyonce and awhile. An extra game or not for the SEC, I would still rate them as the #1 conference but only by a small margin. The Big Ten has had some crazy good teams(Michigan, Ohio State, Penn State) in the 80's and early 90's that you were not going to win. I think the SEC is very strong with the teams they have, and how most of them compete for the title every year.
Yes, Iowa is overrated sometimes, but I wouldn't underrate them. I think Wisconsin is the most overrated team in the Big Ten.