There is a preconscious reduction of bandwidth (lot's of pruning). The input is transformed, from lots of points in low dimensional spaces to fewer points in a higher dimensional one, and it is hypothesized that consciousness is isomorphic to the integration process[1] that performs that transformation.
That theory has the big advantage of being neither anthropo- nor neurocentric. It can be related to any physical system (biological or otherwise).
Stephen Hawking has been spotted at consciousness conferences recently.
[0] http://www.amazon.co.uk/s/ref=ntt_athr_dp_sr_1?_encoding=UTF...
[1] http://en.wikipedia.org/wiki/Integrated_Information_Theory
edit: corrected and refined.