But this year, it cries out for at least a four-team Plus One playoff, and they really need it given all the extraordinary parity due to the numerous upsets this season.
The big argument against a playoff system is that the bowl games are still entertaining. Well, why not make the bowl games host the playoff games?
Last year, Ohio State deserved to play the game in Columbus. If that'd have happened in December, even with half the OSU team drunk, Florida would have had its butt handed to it - and not even because of any argument of OSU being a better team. :)
...but the Bowl system isn't about "fair", or "deserved". It's about bringing money into exhibition games. It's why all the bowls are played in the South or SouthWest - and in some (many) cases actual home games - rather than alternating with northern sites. It's about fans going somewhere sunny in the winter and spending money. It's why the Rose Bowl was an added feature for the Tournament of Roses Parade, and not the other way around.