BYU and Notre Dame are the only schools regarded as P5 by all 4 conferences with a P5 scheduling requirement.

ACC: BYU, Notre Dame, and all P5 conference teams.

Big 10: Army, BYU, Navy, Notre Dame, and all P5 conference teams. The Big 10 has granted an exception to Indiana giving former BCS schools Cincinnati and UConn P5 scheduling status. The Big 10 will consider granting exceptions to other teams based on recent performance (Delaney said they'd look at RPI over last 5-6 seasons when considering exceptions).

Big 12: Army, BYU, Notre Dame, and all P5 conference teams.

Pac-12: No P5 scheduling agreement.

SEC: Army, BYU, Notre Dame, and all P5 conference teams.

Summary of schools recognized as P5 for scheduling requirements:

Army: Big 10, Big 12, and SEC.
BYU: ACC, Big 10, Big 12, and SEC.
Navy: Big 10.
Notre Dame: ACC, Big 10, Big 12, and SEC.
Cincinnati and UConn: Current exception for Indiana granted by the Big 10.

The fact that 4 of the 5 P5 conferences have, in some official capacity, recognized BYU as P5/Major Independent is good for scheduling, and good for BYU's place in the college football world. Certainly, it would be best to be in a P5 conference right now. But failing that, being recognized as a Major Independent is the next best thing. As high as the program rose in the WAC/MWC, it was never officially recognized as "Major," because of the simple fact that it was in a "mid-major" or G5 conference.