Yup. I read in an ESPN article (that I can't find now...) that Oregon averages 15 seconds from spot to snap. That is mind boggling. Most no huddle teams average from 20-25 seconds between spot and snap.
I can't understand why more teams (especially teams in the PAC-12) don't try this system.
It's a double-edged sword.
Unless you're very successful with it, you end up with 3 (or 4, 5, 6 etc.) & outs leaving your defense with the little-to-no rest. I don't care how good your defense is, if you leave them on the field too long they will fail.
And Oregon is not the only team to run an uptempo offense. They just happen to be exceptionally good at it, in part because of MM. He's a 4/5 yr senior and an exceptional athlete, even by NFL standards.
Also, Oregon benefits from having run this system continually for a number of years. Most schools don't have that kind of stability in either their offensive or defensive schemes.
Finally, a lot of high school athletes are attracted to teams that run a pro-style system because it increases their pro prospects. E.g., look at the scuttlebut regarding Braxton Miller. A lot of chatter out there about how he wants to transfer away from Ohio State to play for a pro set type team to improve his draft prospects.
Fern