I would actually be in favor of a 4 team playoff on top of the standard BCS games. They could have the two semi-finals in BCS week and then the national championship the week following, which is when the nat'l championship will be played this year anyway, so it'd only be one more game, pretty much diffusing all this "can't have a playoff in a sport this physical" crap.
Having said that, a 4 team playoff would only push the controversy that currently surrounds the 3rd and 4th ranked teams back onto those ranked 5th and 6th that would still miss out on the playoffs.