USNWR is out with their annual rankings - OSU at 54, which I believe is unchanged from prior year.

B1G:

9. Northwestern

25. Michigan

46. Wisconsin

48. Illinois

54. Ohio State

57. Penn State

57. Purdue

62. Rutgers

64. Maryland

70. Minnesota

79. Indiana

84. Michigan State

84. Iowa

139. Nebraska

All in all, pretty solid list for our fellow conference members.  I'm too lazy to do a bunch of averages, but I'd have to think we're in the top 1-2 of academic conferences (I did notice a bunch of ACC schools ranked high).