Florida's schedule v. Michigan's schedule

Let's begin the "Why Florida should go over Michigan" review with a look at their schedules. First, it's important to consider who the teams have played to understand the value of their Ws.

Florida's Opponent*	Opponent's Record	Final Score
S. Miss (Conf USA)	8-5	34-7
UCF (Conf USA)	4-8	42-0
at Tennessee	9-3	21-20
LSU	10-2	23-10
Kentucky	7-5	26-7
Alabama	6-6	28-13
at Auburn	10-2	27-17 (L)
v Georgia (Jax)	8-4	21-14
at Vandy	4-8	25-19
S Carolina	7-5	17-16
Western Carolina (I-AA)	Unknown	62-0
at F$U	6-6	21-14
v Arkansas (SEC Championship)	10-3	38-28

* Correct conference for non-conference opponents is included in parenthesis next to the appropriate opponent.

Michigan's Opponent*	Opponent's Record	Final Score
Vandy (SEC)	4-8	27-7
C. Michigan (MAC)	9-4	27-7
Notre Dame (Ind.)**	10-2	47-21
Wisconsin	11-1	27-13
Minnesota	6-6	28-14
Michigan State	4-8	31-13
Penn State	8-4	17-10
Iowa	6-6	20-6
Northwestern	4-8	17-3
Ball State (MAC)	5-7	34-26
Indiana	5-7	34-3
Ohio State	12-0	42-39 (L)

* Correct conference for non-conference opponents is included in parenthesis next to the appropriate opponent.
** Notre Dame was also pummeled by USC (44-24), a two loss team.

What does it all mean?! Simple: Florida has eight wins over teams with winning records (2 out of conference). Michigan only has five wins over teams with winning records (one out of conference). Michigan's loss comes from Ohio State, whose perfect record only includes five wins over winning teams with two of those being non-conference opponents!

Someone please explain to me based on this logic how it is that Michigan's win to loss ratio appears more impressive. From where I stand, even with one loss, Florida's got the edge in terms of quality wins.