Bad losses vs good wins - Alabama vs Notre Dame playoff comparison

I'm not actually here to make a point on which one I think should get in (and, as a biased source, will try and refrain from doing so), but rather I think it's an interesting insight into what counts "more" - good wins or bad losses.

At this time, Alabama and Notre Dame have identical records (10-2)

Against teams currently ranked in the playoff (prior to today's rankings):

Alabama
WIns: #4 UGA, #14 Vandy, #18 Tennessee
Losses: #8 Oklahoma

Notre Dame:
Wins: #22 Pittsburgh
Losses: #3 Texas A&M, #12 Miami

Then there's the bad losses:
Alabama: Florida State (5-7)
Notre Dame: None

SOS rankings
Sagarin: Alabama 2, Notre Dame 32
FPI: Alabama 11, Notre Dame 42
Massey: Alabama 13, Notre Dame 40


Now, if the argument is "Who has the better chance of winning in the playoffs" then I would have to admit it's probably Notre Dame. If the argument is "Who has earned the right to be there" and you had to choose between the two, then who do you choose and why?