the BCS in hands down the best system that College Football has ever had...the previous bowl affiliation was terrible with #20 playing #1, etc....
so its either the BCS or a playoff...i personally HATE the idea of a playoff system as the regular season and especially the last couple games of a season could become meaningless.
Why does it have to be a 8 team playoff? I think a 4 team playoff would get the best 2 teams in there.
The big problem is always #3 and #4. One of them is always shortchanged. You have a tougher argument that #5 is the best team in the country.
Just have a four team playoff, #1 v #4, 2 v #3. Just 2 games. Heck, they could hold them next week. Have two bowl games reserved each year. One for #1, one for #3. Problem solved better. Not perfect, but manageable.