I simply don't understand why a 1-AA (sorry, FCS) style playoff can't be adopted. The conference champs from leagues perceived to be inferior would get a chance to prove otherwise, the best second place teams from strong leagues would still get in and the bowl system could be maintained to reward everyone else. I know the money arguments are made, but don't you think a first round game between, say, Ohio State and UC in Ohio Stadium would be an absolute bonanza?
I like a final four type deal, anything more and you begin to make the regular season pointless, much like 70 percent of college basketball before January.
FCS has only been around for about 30 years. Since the NCAA had playoffs for Divisions II and III, and few people were crying for playoffs for the Division I-A teams, a playoff for I-AA seemed to be logical.
My alma mater, Marshall University, was in 1-AA in the 1980s through 1996. The playoffs were terrific. A 16 team playoff resulted in a champion being selected on the field not in the polls before Christmas. With an 11 game regular season, no team played more than 15 games.
Higher seed should host until the championship game. The championship game should be rotated throughout the country, not just current bowl sites.