I've had this thought down for several years and wanted to run it by the 11W wisdom for discussion. Here's a very simple, and fair playoff system that aligns with the bowls, makes the regular season meaningful, and maintains the money for all:
•8 Team Playoff: 5 BCS Conference Champs (Not counting AAC/Big East), and 3 at large. 3 at large determined by current or modified BCS formula.
•Rotate 4 BCS Bowls with Semi-Finals and Championship. Odd bowl out automatically gets #9 and #10. The Championship site automatically gets #11 and #12 to play a week or so before the BCS Championship Game.
•Top 4 seeded/ranked BCS teams get a home game for the 1st round. Tell me that wouldn't maintain meaning for the regular season and would level the field for us B10 people that have complained about playing at a home field for the opponent in bowls.
Start a few days before Christmas (who cares about the other bowls and meaningless NFL games at this time), the semis around New Years and the BCS championship game (NOT ON A DAMN MONDAY) about a week after as normal. Tell me that wouldn't work and satisfy all the current stakeholders and more.