Iowa State can still be a top 10 team and they'll have chances to show it, but beating UNLV doesn't show much.  Kudos to Iowa State for making the trip out west for a G5 non-con game though.
They were incredibly overrated at #7. I had them around #10 and I think after that loss to Iowa, 15 is a good place to begin. They are still a solid team and could certainly challenge for a Big 12 Title.