So are you saying that until this week, Kentucky should have been ranked ahead of Georgia then? Should they have been #1 and #2? I'm not sure I understand what your position is.
You're all over the map here. Why would good wins in previous years justify an easy schedule this year? You think if you do good one year, you should be able to just coast the next year?
Let me break in down in more detail, because you seem to be confused.
1) I think rankings should solely be a reward for this year's performance. Personally, that's shy I don't think teams should even be ranked until the 6th or 7th week of the year, because there's not enough information before then and so bias and perception plays too large a role, which distorts impressions later one.
2) However, I think that in evaluating this year's performance, when you look at how good your early season wins are and you don't have enough information yet, you can take past performance into consideration. Both Georgia and Kentucky have had shytty schedules, and Georgia has sleptwalk through a couple games If you're ranking those teams, I think it would have been perfectly fine to rank Kentucky similar to Georgia, based on their wins so far this season.
However, this year's few games just isn't enough data to actually know how good a team is, especially if all they've scheduled is cupcakes. Due to past performance, I know that in reality Georgia is a MUCH better football team than Kentucky is, and thus I would rate a win over Georgia as a MUCH more impressive win than a win over Kentucky. I think recent past performance by your opponents should factor into perception of schedule strength, but your own recent past performance shouldn't impact your rating this year.
Once there's actually enough games to compare (sadly impossible if you have a shyt-easy schedule), then I would stop using opponents'' recent past performance. By week 10 or 11, you don't need it anymore IF good teams have played each other enough to fairly rank them. But if one team or the other has played a crap schedule, you just can't tell how they rank.