The best summary I have read on this so far by Jeff Borzello at ESPN in putting Michigan at #1 in ESPN's hoops Power Rankings:
There are really only three top candidates right now: Michigan, Tennessee and Virginia.
We'll likely have a more detailed debate come Sunday, after Michigan plays at Wisconsin, Virginia plays at Duke and Tennessee finishes up home games against Arkansas and Alabama, but for now, it goes to Michigan.
The Wolverines arguably have been the nation's most consistent team since the start of the season, with only two of their 15 wins being decided by single digits. They have won 31 of their past 32 games dating to last season, the lone loss coming in the national championship game against Villanova.
Despite all that, they haven't moved to No. 1 at all during that stretch ... until now.
Well said and written - Go Blue!