This, apart from the victory over Ohio State, is one of the most exciting moments I've witnessed as a Michigan fan. This was meant to be a transition year, but the team has pulled off a ten win season and made it to the BCS Sugar Bowl to face Virginia Tech.
A BCS bowl is a big deal for a lot of reasons. Firstly you get to showcase your team on the national stage, or as Dave Brandon puts it, help spread the Michigan 'brand'. It's also great news for recruiting, as hundreds of future prospects will watch Michigan compete on a big stage against a good opponent.
I haven't watched much of Virginia Tech, but they haven't beaten anyone good, and they've received a beatdown from Clemson....twice! Hearing this, I'm reasonably confident at this early stage that Michigan can pull off the win, and this would be huge for the program as it would really confirm that Michigan is back.