With Graham Harrell getting snubbed by the committee, this is pretty much a three way race. Nevertheless you could make an argument for all four and I'd say these are the four deserving candidates by a good margin. 

Sam Bradford

Pros: Probably the frontrunner unless the vote gets split between Big 12 voters. Most touchdowns in the country,  and hence highest passer rating in the country. Crushed teams after the Red River Shootout, throwing 25 TDs and 1 pick (his masterpiece coming against the Red Raiders). 7th in completion percentage, 3rd in yards per attempt.

Cons: Doesn't really have a signature win. Oklahoma's closest game was by 10 points this season, the loss to Texas. In every other game the Sooners were frontrunners and Bradford never really had to feel the pinch of leading his team from behind. So he has that on his resume. Also might feel the wrath of some voters who think OU ran up the score on lesser teams.

Graham Harrell

Pros: Knocked Texas out of the national championship game with a big game winning drive. Second in passing yards/game, 9th in passer rating, tied for 4th in Tds, 3rd in completion percentage at 71.5% (yeah, 71.5% is only 3rd. Comical). And of course this offense is dependent on him more than any other, and he was excellent in getting the Red Raiders to 10-0.

Cons: We already know he lost, since he was not invited to New York. Way to show you're not elitist Heisman voters. That being said there's a good case you canmake against him--Harrell's numbers slid in the final two games of the season, and he was at best average against the Sooners (and turned the ball over on some crucial possesions). And you could argue his yardage stats were the nature of the beast that is the Airraid.

Colt McCoy

Pros: Unprecedented 77.6 completion percentage. Passer rating of 179.2, 3rd in the country behind Bradford and Johnson. Of the three Big 12 quarterbacks, he has the best mobility, averaging a pretty decent 4.5 yards per carry when he needed to take off and go. And also showed comeback abilities in bringing Texas back against Oklahoma and Texas Tech.

Cons: He's not playing in the title game? The only thing I can think of is that he struggled to find his footing in the first half against the Red Raiders and that he was shut down by the Red Raider defense on the ground too.

This is really a tough situation for McCoy, who is every bit as deserving as Bradford and BEAT Bradford in Dallas, but since Bradford is in Miami you'll probably see the Sooner QB get more votes.

Tim Tebow 

Pros: In almost any other year he'd win the Heisman hands down. If you were giving this to the best college athlete, Tebow landslides the competition. It kind of reminds me when Michael Jordan was the greatest player alive for 10 years, but they handed off the MVP to someone else because they had a stellar season. And then he torched them in the Finals.

His resume is pretty impressive. Finally showing he can come back in a big game by beating Alabama. Fifth in passer rating, 4th in passing yards per attempt (albiet a slight step down from last season because of the Big 12 QBs). He only threw two interceptions. TWO.

Drawback: If you use the same criteria from last season (amazing statistics), Tebow just doesn't compare to the Big 12 quarterbacks. His rushing stats are way down (he only averaged 3.66 yards per carry and 12 TDs), although you could argue Florida didn't have to rely on him as heavily this season with the Gators blowing opponents out.

Who ya got? And feel free to submit a dark horse candidate, just be prepared to back it up.

(Stats from cfbstats.com)