As I sit here watching the March Madness games, I can't help but think college football could do the same thing basketball does, i.e., have a playoff that gives EVERYONE a chance to compete for the national championship. These mid-major conferences battle hard for the right to go to the Big Dance, where realistically they are going to get their heads handed to them. They have NO CHANCE of winning the championship, but the Toutney is better for having allowed them to compete.
Division I-AA has shown that a 16 team playoff is workable. The 6 BCS conferences would all send their champions and they would obviously be the top seeds (earning home games that would most likely be sellouts). The 5 current mid-major conferences and independents (except for Notre Dame?) would have to be reorganized into 4 more regional conferences of 12-14 members. This would set up conference football championship games to determine who would represent the various conferences. With only 4 mid-major participants, the BCS conferences (and Notre Dame if they don't join the Big 10 or Big East) would compete for 6 wild card spots.
If 16 teams participating and 15 games being played isn't enough, there could still be a series of bowl games or even another tourney (like the NIT) for teams that may have lost their championship games but had seasons deserving of post season play. I hope the NCAA gives this type of plan some serious consideration when the current BCS deal ends in 2006.