|I've always liked Randy Newman's version|
Here are the College Basketball Team Rankings as of February 27, 2012. These rankings use the Vegas point spreads to derive an implied team by team ranking. My original post of the rankings has more detail on the methodology.
Kentucky is back on top again, with a half point lead over Ohio State. Despite Ohio State's drop, the Big Ten overall gets a lot of respect in these rankings, with three of the top ten teams, and 9 of the top 64. Also, the top 4 teams in Strength of Schedule (the SOS column) are all Big Ten teams. It will be interesting to see if this holds come the NCAA tournament. It's impossible to tell at this point as the Big Ten teams have not been playing inter-conference games (at least not ones with betting action).