True. If you are on the bubble, you are like a boxer who could have knodked out his opponent but let it go to a decision and got one he didn't expect.
Looking at the records of Arkansas and Stanford:
http://www.sports-reference.com/cbb/schools/arkansas/2007-schedule.html
Arkansas didn't loose to any mid-majors but they did have a 7-9 regular season record in the SEC and they lost games by 22,24 and 21 points and then lost by 17 to USC in the first round.
Is there any chance that they just messed up and forgot about us completely that year? and then had to start rationalizing the "decision" because they decided it was easier to do that than the explain just forgetting about a team?