Use the NFL system. Win your conference and you are in. It would make conference games more compelling. Each conference would have a conference championship game, essentially round 1. A uniform tie break system would have to apply to all conferences. The NFL type system would emphasize wins and take out the gymnastics/figure skating/diving judging aspect from college football. The rankings would mean squat. How important are the NFL power rankings in winning the Super Bowl? Home fields would be used for the first round after the championship games. After that, an NCAA Basketball tournament type site selection would be used for all subsequent rounds. All other teams not making the tournament would be eligible for a bowl game using basically the same standards we have today.
This, as long as it doesn't eliminate the normal bowl games. To be honest. I don't really give a hoot who the national champion is if it isn't the Cyclones. So, if we get to 7,8 or 9 wins, I don't want us left out of a bowl game because they decided to take only 16 teams out of 120 div 1 A teams and make a playoff system.
There are too many bowls now, I admit that, but there is something about the bowl system that keeps your season important after you've lost 3 games already. If it's NC or bust, seriously, once you've lost 2 games, why even play the rest of the season? Keep the bowls, take conf. Champs and put them in a playoff. I'm sorry, I don't care how highly you were rated. If you can't win your conference Championship, you aren't a champion. Yes, this includes Oklahoma.