The only way a playoff will work will be :
1Â Each BCS conference have 12 teams and a championship game
2. Removal of the 12 th game
3. AÂ 8 team playoff following the championship game at the home of the higher seed in December
4. Losers still are bowl eligible
5. Utilize two bowl games on New years for semi finals with Finals the following weekend.
6. Make all conference championship losers ineligible for an at large bid. ( This will encourage a better SOS for any conference that has more than a couple very good teams and would give a one loss team in a major conference to get an at large shot if they didn't get in the conference championship game.)
There you have it.  No one would ever play more than a 15 game schedule. Regular season would mean more than ever.
Put Notre Dame in Big 11.  Add Utah and BYU to Pac 10   Add East Carolina , UCF, Memphis and USM to Big East.
You still have 2 at large chances for any deserving team. BCS or otherwise
Bowls stay the same with far more captivating and attractive match ups.
Win your conference championship you are in.  Win a bunch of games against stout competition and you might make the final 2 slots. Everything decided on the field not in the voting booth.
I like it. It would address the 2008 Texas problem (they got shut out of the Big 12 CG) and BSU and TCU would get one of the at large (this year).
they big problem is selling it. Notre Dame doesn't want to join any conference (and share their TV $$$) and all the Bowls not involved will gripe about having their thunder stolen (playoffs are taking interest away from the Meinke car care bowl for instance).