There have been some previous threads about this, but now that the games are about to begin I can confirm that ESPN3 (formerly ESPN 360) will be showing all ABC and ESPN games live. I live in Ibiza, Spain, so this is manna from heaven for me. The cost is 100 euros for one entire year (including basketball), and they will carry many bowl games including all five BCS games. Big Ten Network games are also streamed in Europe but on a per game basis and last year it was a bit pricey considering the quality of the games offered - we shall see what they do this year.
Sorry for you wolverines in bella Italia as for some reason that country is excluded from ESPN3.