Cajunjacket, that will never work. I mean, it will be fine gamewise, but every game will be in front of a half empty stadium except the finals. You simply won't be able to even come close to selling out even a quarterfinal game at a neutral site, unless it happens to be something like USC playing in the Rose Bowl. Just look at basketball...they play in much smaller arenas and even then there are A LOT of empty seats in games before the final four. The travel expenses are just far too much for normal fans, and are people in Miami really going to go watch ECU-Texas? They can't even sell out Miami Hurricanes games.
People don't seem to get that the major roadblock to a playoff isn't the format, it's the money. People are going to lose a lot of money, and those people are the people who run the Rose Bowl, Fiesta Bowl, etc.
Also, a lot of people do like the tradition of those big bowls...I can see why the Big X and Pac 10 wouldn't want to go to a playoff, because it would eliminate any relevance the Rose Bowl has, unless they rotated the NC game to there once every four years a la the Super Bowl.