Newton is the clear-cut leader and probably could clinch the trophy with a big performance against Alabama on Friday. But the uncertainty about his eligibility has cast doubt on his chances, as several voters already have announced a hesitancy to vote for him.
If that movement picks up steam, the race for the trophy is wide open.
Moore is the second choice in a lot of polls, but the substandard caliber of competition he has faced could become an issue. Luck has been consistent more than spectacular, although he was excellent in a victory over California last week. His numbers are similar to Moore's despite facing stronger competition.
James may have slipped some because he did not play last week, while Luck and Moore had strong performances. But he has rushed for more than 100 yards in seven of the nine games in which he has played. If he closes with strong games against Arizona and Oregon State, he would be in good position to challenge Newton.
Here is this week's top five:
1. QB Cameron Newton, Auburn: His most important game -- and the game he may be most judged on -- is this week's Iron Bowl clash against Alabama. Newton has passed for 2,038 yards, rushed for 1,297 and has accounted for 38 touchdowns.
2. QB Andrew Luck, Stanford: His Heisman profile has to have been raised after a brilliant performance in a blowout win over Cal. Luck completed 80 percent of his passes for 235 yards and two touchdowns and also had a 58-yard run. He has passed for 2,746 yards and 24 touchdowns, with seven interceptions. He's also the Cardinal's second-leading rusher with 445 yards.
3. QB Kellen Moore, Boise State: After a 333-yard passing performance in a blowout of Fresno State, Moore remains the national leader in passing efficiency. He has thrown for 2,921 yards and 28 touchdowns, with five interceptions. He's thrown at least two touchdown passes in every game. His competition remains a point of contention: Five of Boise State's 10 opponents are ranked between 92nd and 118th in the nation in total defense.
4. RB LaMichael James, Oregon: An open date hurt James, who was idle while Luck and Moore played well last week. James was limited to 91 yards and no touchdowns against Cal two weeks ago.
5. WR Justin Blackmon, Oklahoma State: He continues to lead the nation with 1,560 receiving yards and 17 touchdown catches. Blackmon has had at least one touchdown catch in every game in which he has played. Last week against Kansas, he had 10 catches for 130 yards and a touchdown.
Olin Buchanan is the senior college football writer for Rivals.com. He can be reached at email@example.com.