Honest assessment of Elite 8 losses since seeding started:
83- Not the better team. But a heartbreaking loss because it was so close.
86- Definitely the better team, but not a team that was likely to win a title. Would have been an underdog in the FF in the first game, and the final if they won in the semi.
92- Not the better team. But the ultimate heartbreak.
95- Pretty evenly matched teams. But the best players on the floor played for UNC.
99- Not the better team. Mich State went on to win the title in 2000 with mostly the same players.
03- Probably the better team. But totally outplayed, and the best player on the floor, by far, played for Marquette.
05- Pretty evenly matched. Would have been a major underdog in the FF.
10- Definitely the better team, but West Virginia was probably the best team UK played that year.
17- Very evenly matched teams. Play 10 times, at best it's 6-4 in UK's favor (or 6-4 for UNC). Tough because whoever won the game, be it UNC or UK, was going into the FF as the favorite.
As for the wins:
84- UK was the better team, though not by as much as people thought.
93- UK was obviously better. UK wins that game 9/10 times
96- UK was obviously better. UK wins that game 95/100 times
97- UK was obviously better.
98- UK was slightly worse, though it was very close.
11- Very evenly matched.
12- No contest. UK wins 99/100.
14- Very even.
15- UK clearly better, but Notre Dame was the best team UK played all year, until the next game.
Honestly, I think the main issue has been simple luck. When UK gets to the Elite 8, it's NEVER against some Cinderella who's made an unexpected run. The one time it was, in 86, it worked against UK because it was a team they had already played 3 times (and as I researched last week, and as played out with SC/Fla, LOWER seeds have dominated conference rematch regional finals). The other schools that make frequent appearances in the Elite 8, like UNC, Duke, and Kansas, have had numerous match-ups with teams seeded below 4 that help bloat the winning percentage.