First, I don't think the CFPC's job is easy as they'll have critics no matter what.
The Chair should NOT have said anything about teams staying in order. The standard to date, and I don't see why it would have just by virtue of going from 4 to 12, is/was everything starts over every week and teams' respective bodies of work are re-examined. He seemed to say there would be no new data points for a team like Alabama who was idle this week. But, that's actually not true IMO. UGAg winning or losing *is* another data point that should be factored into their ranking. Bama's best win was over UGAg. UGAg won last night, beating Texas for second time this season. To me, that should help them. Had UGA lost, that should hurt them. I'm not making an argument for Bama to stay in. I am trying to illustrate why I think the Chair / CFPC is wrong to state any pre-determined "rules". I get the entertainment piece of it, but that's for the talking heads and should not be coming from the CFPC.
They have also said they "value" CCGs with the corollary that a team should not be punished for playing in the game. If that's the case, then SMU should stay in IMO. They should not be penalized for that loss enough to drop them out since they *do* have the extra datapoint putting their necks out. But, this all gets back to "who is best" vs. "who is most deserving" (and as others have mentioned, potentially calls into question the future of the CCGs).
SMU deserves it IMO, but I believe Bama will stay in. The CFPC will explain it away based upon SOS, signature wins (see Bama over UGA above), ignore the losses, yada yada. Bama vs. ND brings way more $$$$ than SMU against anyone really. Tough for the Pony Express, but that's what I think will happen. I'll come back and happily eat crow if I am wrong.
Prepare thy anus.