I agree with much of that. I would disagree about Rees though. He actually looked really good. He made a lot of perfect passes into good coverage. He only really made one really bad throw. the first interception he threw was off the helmet of his receiver who wasn't paying attention. The other interception he threw was into double coverage, and there really wasn't anywhere for him to fit the ball in, just a bad decision.
The turnovers are slightly overrated in this game. I heard Kirk Herbstreit say that the fumble return was a 14 point swing. He fails to realize that it was a 3rd down and goal, so even if there was no fumble, they probably would have settled for a field goal attempt. You can't say that it was a 14 point swing. 10 tops. Same thing with the interception in the endzone. That was a 3rd down play. Even if it were an incomplete pass, Notre Dame would have settled for a FG attempt. Obviously turnovers were a big deal in the game, but it isn't as bad as some people are making it out to be.
Also, the reason USF picked off a couple of those passes (not the one off the helmet) was because ND was making risky throws all game. They were high risk/high reward plays. When you are consistently squeezing the ball passed defenders and dropping perfect passes in between a linebacker and a safety, it isn't always going to go your way. If you take the incredible plays, you also have to take the interceptions as a natural consequence rather than a fluke (or cheap) play.
Yardage is also overrated. It was clear that USF was playing a very conservative game offensively, and their strategy on defense was to not give up the big play. Holtz even said as much: "we took the mindset, bend but don't break, bend but don't break, let's not give up the home run ball. I think Michael Floyd is a great player on film. I think he's a lot better than he is on film. I think he is one of the special players in college football. I think he's a difference maker. He is special. And because of him when we just turned and said let's try and make sure we keep him in front of them. Even trying to do that he still caught one later. But the whole mindset was bend, don't break. Our motto was make them snap it again, don't just let them in the end zone, make them snap it again. I don't care if it's a 20 play drive. They haven't scored yet if they don't cross that end zone. Don't let them in the end zone, make them drive the field, don't give them anything cheap. "
You can't measure the players performance purely on yards. Yards aren't all that important. Especially when you're playing with a lead and your trying to bleed the clock. Obviously ND played a great game - particularly Floyd and Rees. But the game wasn't as lopsided as the stats would indicate.