LSU, Alabama and Auburn are not exactly great schools, but in certain programs they offer a top flight education. For instance, Alabama and LSU are top 10 in journalism and communications. LSU and Auburn have strong agricultural research centers. Mississippi State's turf-management is world class.
Georgia, Vanderbilt and Florida are great schools on par with nearly any other university playing big time football.
The SEC isn't a great academic conference, but it has three great schools in UF, UGA and Vandy, and some others with unfair reputations. Arkansas is probably the worst one -- their admissions standards are nearly non-existent -- and Ole Miss and Mississippi State are pretty worthless too. But Bama, LSU, UT and Auburn are really good for certain programs. I have no idea about Kentucky or South Carolina.