And your mind is clouded as well because it's Penn State. Beating the #2 team on the road that went on to win the national championship will be hard to beat.
IF we beat Penn State, we won't know the magnitude of the win until AFTER the season. In 1984 Pitt had a pre-season rank of #3. They lost to BYU the first game of the season. It was considered a HUGE upset at the time. Pitt went on to have a 3-7-1 record. How big of an upset was it for BYU? Not much...
IF we beat PSU and they go on to win the national championship then I would say yes, it will have been a bigger victory. IF we beat PSU and they somehow finish 7-6, then it was a nice victory against a hated rival, but nothing more...