Well, the Cotton Bowl is not messing around. Per their official Twitter:
This one may have big implications for Alabama. I kind of thought initially that the Cotton Bowl would be a bit of a stretch for 'Bama, but the Cotton Bowl says we remain a candidate and a lot of people think 'Bama may still end up bowling in Arlington come January 7th.
One way or the other, the only three viable candidates are 'Bama, LSU, or Arkansas, and even if Arkansas gets left out in the cold by the BCS -- that will happen if South Carolina upsets Auburn -- surely the Cotton Bowl officials will not select the Hogs because Arkansas and Texas A&M played at JerryLand the past two years. That basically leaves either Alabama or LSU, and for what it's worth LSU opens the 2011 season at JerryLand against Oregon, so that may be a consideration that comes into play as well. Either way, if 'Bama heads to Arlington, Texas A&M will be the opponent.