I will probably get steamrolled for saying this but...
I'm actually against a playoff system.
I like the BCS because it forces you to win your games. And winning should be important. Think about the cons of a college football playoff. You may think there aren't any, but take a look at college basketball. Their postseason is GREAT. Their March Madness tournaments is one of the best times of the year. But take a look at their regular season. It begins in early November and drags on until March. A most of the country says what?
"I don't even watch college basketball until the tournament starts."
That's sad. I love college football. It's an obsession. I don't want my college football regular season to become watered down simply because, and honestly this is rare, the BCS whiffs. Think about when the BCS has really whiffed. Auburn. Auburn was 13 - 0 and didn't get in. Other than that, they've mostly gotten it right. Florida should have played Oklahoma this year. Oklahoma should have gotten in over Texas. Texas played a much worse schedule. And when you schedule scrubs, you should be punished. And then Texas got exposed against Ohio State. I know Texas won the game, but ultimately, they were exposed. And in the end, Texas ended up ahead of Oklahoma in the final BCS standings.
If you ask me, the only reasonable solution is to keep the bowl games but cut out a few. Teams that go 6 - 6 shouldn't get in to bowls. You should have to win 7. If you're 6 - 6 and go to the PoulanPro Weed Eater Bowl, there's a chance you lose, and finish the season 6 - 7. What kind of bowl team finishes with a losing record? Win 7 games. Then go to a bowl. Finally, embrace the Plus One system. Yes, there's a lot of b*tching about the BCS and who gets in so if the top 4 teams are in the title hunt, who can really complain? Take a look at the BCS standings BEFORE the championship game and look at teams ranked #5 or lower and tell me who really had a legitimate gripe about not being in the top 4. USC and that's it. But they lost to Oregon State so they can't complain that much. And don't hand me Utah. If Alabama had shown up to play instead of not caring because they got beat by Florida and had nothing to play for, that game wouldn't have been close. And Andre Smith was a BIG loss.
College football doesn't need a playoff. As fans we would suffer as a result. If we go to an 8 or 16 game format, we're stuck with teams like Cincinnati and Virginia Tech playing just like they did in the Orange Bowl and nobody watched that. People watched the championship game because it mattered. When you take eight to sixteen teams you're taking the top teams and average teams and mushing them all together in an effort to make everyone equal. That's Socialism. College football doesn't need to become Socialism.