16 teams is the absolute maximum number of teams that I EVER want to see in a college football playoff. Anything more, and you get some truly undeserving teams in the mix (that includes us...yeah, I said it.) I don't think someone like Troy is exactly the most qualified team to get in, but as someone said earlier, including all 11 conference champions is probably going to end up being a necessary evil if a playoff is ever to come to fruition.
My biggest concern is how each conference determines it's champion. I don't think it is fair at all for there to be different standards, and I damn sure don't want that to be the case if every conference champion is going to have a chance to play for a title. Either have everyone play a conference championship game, or have everyone not play one, but play everyone in the conference once (i.e. Pac-10). That's something that will have to change if there is a playoff. Screw the Big-10. If they want OSU/UM to be important, put them in the same division, or just make them yearly rivals like the ACC does with f$u and miami. It's presumptuous of them to think they the conference will always go through those two schools anyway. Case in point, this year. The conference was decided by the OSU/Penn State game, and the OSU/UM game was a joke.