I think you're posting with your heart by reminiscing on bowl games of yesteryear. Bowl games don't have the appeal they once did and it's trending downward. The main storylines from this bowl season are who didn't play and who even cared to be there.
Well, perhaps there was an extenuating circumstance or two this year that skewed those storylines...
As mentioned already, the conferences that don't have round-robin schedule pretty much need a conference championship game to determine their champion.
The current format engages about 1/2 of the the FBS fansbases through the end of December. The proposed 24-team format removes a connection to the post season for about 4/5 of the FBS fanbases in late November. From a marketing standpoint, that doesn't seem like a good idea...