Not that pre-season rankings mean much, but it is a nice place to start. Considering the fact that these ratings make up a part of the BCS rankings, I'd say this is a very good place to start. Utah is the highest non-bcs team, followed by TCU(16), Boise St. (19), and Brigham Young(23).
Of course wins are what ultimately matter. I am positive that if any of the four teams mentioned above goes undefeated this year, they will end up in a BCS bowl game. Still, a ranking this high can't hurt.