#1 LSU got off to a rough start but some key punt returns by Tyrann Mathieu—one for a touchdown—keyed a huge comeback and the Tigers beat Georgia 42-10. LSU finishes the season 13-0 and is certain to be in the national championship game.
Georgia's loss also opens the door for Michigan to be in the top 14 and be selected for a BCS bowl, and TCU to be in the top 16 which would make them an automatic qualifier.
With Houston's loss, TCU is the top non-AQ conference winner. They are very likely in the top 16 as they will pass Georgia and probably the Big Ten title game loser. Baylor's win makes TCU's fate a bit uncertain, but the Horned Frogs won't necessarily have to pass the Bears. A Baylor loss would have made it 100%, but the Georgia loss probably suffices.
Michigan's spot in the top 14 might have been okay even without Georgia losing, but now it's very close to a lock. The only possible scenarios where the Wolverines don't make it include: Michigan State loses narrowly enough to Wisconsin that they don't fall below Michigan; and Baylor passing Michigan in the standings. Both are unlikely to occur.
TCU has to worry about the Michigan State scenario as well, and more than Michigan does. But MSU is currently 13th and odds are they would fall to at least 17th, making both Michigan and TCU safe. There is a good chance that the two teams will play each other in the Sugar Bowl.