This whole debate reminds me of N Illinois in 12'. Lose one game in non conf (to 4-8 Iowa) win the rest against MAC teams and blown out vs FSU in orange bowl. You win or finish near top of MAC always get one or 2 of those schools to be ranked or close to it, especially if undefeated like they were. However put that team in big 10 or 12 that year they aren't getting ranked. Like Boise st years past win the one or 2 tough games and then you have 8-9 easy ones not the grind of playing big 10 or 12 teams every week. And was NIU that year better than some of the 8-4 or 9-3 teams in SEC Big10 ACC they finished ranked ahead of? probably not but that's how it works for non power 5 teams get better ranking end of the year.
As for Toledo they got Arkansas early on and lucky to beat a bad power 5 in ISU at home and got lot of publicity for beating 2 power 5 teams. As for who is better Pitt or Toledo who cares it's like arguing who is the 5th best team in conference or debating who is the 39th best team last year. Of course isu fans will say Toledo and Iowa Pitt but funny some think they can convince the other.