Saw that the other day, the odds kinda surprised me... will Vegas get enough action on the other teams to compensate for USC? In all likelihood USC will win the conf again, but its still kind of a suckers bet at -300.
You seem to dislike the UCLA line, but I thought it was the best value bet of the group. Skippy aka Neuweasel is known for his quick starts at new programs. UCLA will have one of the top D-lines in the conference with their DT combo, which alone should win them a couple games. If Bell returns to pre-injury form and they get decent QB play I can definitely see UCLA taking the conference, although they do have a tougher schedule than Cal (with the same odds).
Overall I wouldn't place a bet on any of these though, USC seems too strong a favorite to bet otherwise but the odds you get on USC don't make it worthwhile.