The fact that we're not ranked (yet) means that the 17-4 record isn't good enough -- it doesn't mean what it used to be.
In a normal year, in the old Big East, with an OOC slate that involved a major pre-season tournament and another serious high-major or two, 17-4 would mean we were well into the top 25 and talked about nationally as a Final Four contender.
In 2011, we were 17-4 and ranked -- not only ranked, but in the top 10, by virtue of having 4 wins over ranked teams (and those 4 losses also coming exclusively against ranked teams). In fact, by Selection Sunday we had played a ranked team 15 times and won 9 times.
Our 17-4 to date includes 2 wins and 1 loss against ranked teams, and 3 losses against unranked teams. By Selection Sunday, we'll have at most 9 games against ranked teams total.
So 17-4 is decent for this year, but it's an apples and oranges comparison to 17-4 in years past.