As I have said in a previous thread, if you watched the greatest ever match-ups on ESPN rescently, Barry Switzer said it would work for sure! As HANC just said, if you recruit top notch athletes to run the option, the system will work. I dont think it matters what system is in place, if you have the athletes, and the right coach to run the system, it will be effective. Switzer did say that his Wishbone would not be as effective today, but that if he were to go back to coaching college football, he would coach Osbornes style of option football that was ran in the 90's.
Im not bagging on B.C. or anything, just think that had Solich been able to recruit the right players, the option still could be effective. Dont tell me that there wasnt speed on defense like there is today, because many of todays top NFL players are from the mid to late 90's college teams, proving that there is was just as much speed then as there is in todays college game!