A few moments after Tennessee completed its landmark 66–62 win against Memphis and staked its claim as the new no. 1 team in America, ESPN reporter Erin Andrews took coach Bruce Pearl aside and asked him what the victory meant to him. Pearl didn’t immediately launch into a tribute to his team, or even grab Andrews to illustrate Memphis’ clutching defense, the way he’d done at halftime. Instead, Pearl pointed to his team’s conference, noting how important it was to represent the SEC on a national stage.

You could hardly blame him. Only one year removed from a second straight national championship by Florida, an SEC darling, the conference has now often looked like Tennessee and 11 Lilliputians this season.

The Vols were one of our Final Four picks at the start of the season, and they’ve done nothing since then to suggest they don’t deserve that projection. The path they’ve taken to get to no. 1 differs from most expectations, though. Back in November, senior guard Chris Lofton looked like a Player of the Year candidate: The thinking was that Lofton would be the lead dog on a Vols team that would carve up opponents with their perimeter play and pressure defense.

Instead, Lofton’s come up small many times this season. Saturday night, Lofton had trouble even catching the ball. When he did, he forced multiple shots, resulting in 27 uninspiring minutes, 2-for-11 shooting from the field, and an 0-for-4 from behind the arc. The game conjured up memories of Lofton’s struggles earlier this year. During a 10-game stretch this season, Lofton averaged just 12 points a game. He did reel off five straight 20-point games thereafter. Still, Saturday’s shooting debacle showed that Tennessee needs others to play at the top of their game if the Vols want to preserve their no. 1 ranking and make a Final Four run.

Fortunately, this might be the deepest team in America. The big difference makers from last season are two transfers who arrived under harsh circumstances. Tyler Smith transferred back home from Iowa to be with his ailing father, who would die of lung cancer in September. The NCAA waived the mandatory one-year waiting period for the sophomore forward, allowing him to suit up right away for the Vols. He’s since evolved into one of the best players in the conference and one of the most versatile players in the nation. His contested turnaround jumper in the paint provided the winning margin for Tennessee Saturday.

J.P. Prince faced a life-threatening situation of his own two years ago, while with Arizona. A simple wisdom tooth removal went wrong for Prince, causing an infection, and then an induced coma. It was a long road back to recovery from there. But after transferring to Tennessee and sitting out the first nine games of this season, he’s emerged as a great sixth man, one who might do more with 19 minutes a game than any player in Division I. Add a frighteningly talented backcourt duo in JaJuan and Ramar Smith, and improved inside-outside production from big man Wayne Chism, and you have a team that’s head and shoulders above the rest of the conference and a real threat to make it three straight national titles for SEC teams.

Vanderbilt looked like the second-best team in the conference earlier this season, running out to a 16–0 start. Shan Foster and freshman A.J. Ogilvy average more than 36 points a game between them, and the Commodores have another winning streak going at six in a row. Before the Memphis game, Pearl tried to convince anyone who’d listen that Tuesday night’s game at Vanderbilt was Tennessee’s most important regular-season game left on the schedule. No one believed him, though maybe not just because of Saturday’s 1 vs. 2 matchup in Memphis. In between their two winning streaks, Vandy dropped four out of five conference games. All four losses came on the road, with Ogilvy looking especially rattled in enemy territory, matching up against some of the SEC’s top big men. A dynamic offensive team, Vanderbilt ranks just 74th in Defensive Efficiency, rarely forces turnovers, and struggles with offensive rebounding, both in grabbing their own and preventing others from crashing the boards. That makes them an iffy bet to get past the tournament’s first weekend.

Go through the rest of the conference and you’ll find plenty of holes elsewhere. Florida’s offense can be deadly at times, but their no. 96 Defensive Efficiency rating shows the Gators’ matador tendencies. They’re a talented team that’s probably a year away from making serious noise, given their bumper crop of freshmen. Arkansas also started fast this season, only to drop three of their past four games. After a monster freshman year, Patrick Beverley has regressed in most offensive categories, leaving the Hogs without a true impact player on the roster. Kentucky’s 9–3 in SEC play, but they’ve grown fat against cupcake opponents and sport several ugly losses on their non-conference schedule. Six other teams in the conference are 4–8 or worse in conference action, leaving them with no shot at the big dance, unless they can shock their way to the SEC tournament crown.

If you’re looking for a sleeper, don’t fall asleep on Mississippi State. The Bulldogs pulled out an overtime win Saturday at South Carolina that showed their vulnerability as a contender, but also their resilience and talent. Trailing by three with six seconds left, Bulldogs point guard and SEC Player of the Year candidate Jamont Gordon drove the length of the floor, then fired the ball out to Tyler Hansbrough’s younger brother, Ben, for an open three. Hansbrough missed the shot but drew a foul, nailing three ice-water free throws to extend the game. When Gordon fouled out early in overtime, the Bulldogs looked like they were in trouble. But Mississippi State immediately went to their other star, 6-foot-8-inch, 240-pound bruiser Charles Rhodes, with winning results. On one play, Hansbrough threw a perfect entry pass to Rhodes, who caught the ball, pivoted by his man, spun and dunked it in one motion. Though they surely caught a break at the end of regulation, the Bulldogs took full advantage of their luck, the way good teams usually do. With two bona fide stars, four players averaging double-figure points, and the nation’s leading shot blocker in Jarvis Varnado, Mississippi State might do its own share of damage next month.

So maybe when all’s said and done, the SEC will have given us two scary teams for March. Two and a half, tops.

Mr. Keri (jonahkeri@gmail.com) is a writer for ESPN.com’s Page 2.