The Atlanta Journal-Constitution argues that the SEC is still superior to the ACC in football. Hard to argue, really. Now, the best ACC teams (Florida State -- until last year anyway -- UNC a few years back, Maryland last year) are equal to anything the SEC has to offer. But there just isn't the depth of good teams. Most years, I'd say the fourth-best team in the ACC would be about the eighth-best in the SEC.
On the other hand, half the SEC is either under investigation from the NCAA or already under sanctions. It's all moot if the SEC goes the way of the Southwest Conference. (Remember them?)