The ultimate answer and I disagree with those that say a playoff will take away from the regular season.
I know some disagree but there is no way anyone can say every game during the regular season will be as meaningful with a playoff in place. Just look at the NFL where they hold players out the last 2 weeks when they have a steady spot in the playoffs. A small scale playoff probably wouldn't take away too much. We will see at least a plus one in 2014 IMO.
A playoff that allows teams to actually beat each other rather than fans or polls debating and deciding the winner subjectively seems like a great answer to me. Works for all other sports.
Only thing is one game makes a difference in the college where as in the NFL it doesn't. Let say they take the top 8 most likely only two losses at the most would separate 1 from eight. Right now w/ islstl BCS projections The first week of Playoffs w/ 4 games using the BCS rankings: #1 Alabama vs #8 Penn State #2 Texas vs #7 Texas Tech #3 Oklahoma vs #6 Utah #4 Florida vs #5 USC I would watch it.
The flip is that many teams feel there season is over and meaningless if they have 1-2 losses depending on how others are faring.
They could still have those other bowl games because they dont have a effect on the BCS games anyways and come before them too so they still can look forward to playing in a bowl game at the end of the season.
I remember growing up thinking why do teams give a crap about a meaningless bowl game agaisnst some random team determined by a bunch of administrative people. I still feel this way to some degree. I understand the traditions more, watch the games with some interest, but in the end if it is not a championship game, is it really that meaningful? If you have a playoff, then a team with two losses in September who is gelling still has a chance along with 8-16 other teams in playoff/bowl games week after week. That is more exciting in my view.