Technically, it was a two year probation, but it carried over three seasons. They announced the probation after the tv schedule was set for the 1973 season, so the regular season games that season were on ABC, then the only carrier.
So the two years covered the 1974 and 75 regular seasons, and the 1973 and 75 post seasons. So no bowl game in 1973 and no regular season in 1975. But the 1975 team did get to play in the Orange Bowl, and won the natty beating Michigan, I believe it was 14-6.
The '74 team was certainly one of OU's top three ever, and likely number one. They had two of three Selmon brothers, and several seniors who weren't around for the loss at home to KU a year later. Rod Shoate, Randy Hughes and Kyle Davis were likely the best three.
If Jack Mildren had been around for the 1972 team, it would have been the best ever, but with Dave Robertson as OUr slowest wishbone quarterback ever, we had a bad day on the icy artificial turf in Boulder. If we'd have had a BCS in '72, and gotten a chance at USC, whom we beat in '71 at home, and tied at their place with a bunch of sophomores in '73 (And the best Sooner ever, watching with Pericarditis) I'd have loved to have had a chance at it.
The 1949 Sooners and the 1955-56 Sooners were also great teams.