We need to start from an agreed upon premise. Let's start with the Ute Basketball Team is bad, really really bad. That same bad team just beat Stanford. Stanford either a) had a bad night, or 2) is also a bad team.
If Stanford is a bad team, there record makes them a middle of the road team in the conference. Ergo, we cannot draw any conclusions as to the conference as a whole.
If Stanford just had a bad night, then we also cannot draw any conclusions as to the conference.
But if you look at the records of the entire Pac10.2 you can see that this has been a terrible year for basketball. The conference as a whole is down, way way down. I was listening to the radio here in AZ the other day and they said that the conference had Zero wins against top25 opponents, 1 win against the top 50. That's not bad, that's terrible.