YES YES and YES...

Depends on how you choose the rules; you can do conference championships or rankings. Just do it and go with it. There is no perfect system; it's just a fact. That doesn't mean you can't make a good system though. Again, I refer you to the NFL this season.

What was so peculiar about the NFL this season? Last time I checked, there were no meaningful ranking (and highly subjective) polls used by NFL teams. Despite their 11-5 record, the Patriots didn't win their conference, and were not one of the two best non-conference winners in their division, so they're out of luck.

An AP poll ranking them #8 or 9 would have only muddied the system and added chaos. Perhaps that's the NCAA's biggest problem. Div-1A is too in-bed with all these convoluted poll systems.
 
What was so peculiar about the NFL this season? Last time I checked, there were no meaningful ranking (and highly subjective) polls used by NFL teams. Despite their 11-5 record, the Patriots didn't win their conference, and were not one of the two best non-conference winners in their division, so they're out of luck.

An AP poll ranking them #8 or 9 would have only muddied the system and added chaos. Perhaps that's the NCAA's biggest problem. Div-1A is too in-bed with all these convoluted poll systems.

Well, everyone's worried that a more deserving team is going to get left out from a playoff. My point is that the Patriots were far more deserving than several of the teams that made the NFL playoffs, yet they were left out. This doesn't mean the NFL should just abandon their playoff system and go to a single championship game. There is no perfect system to select who goes: straight up records aren't perfect, subjective polls aren't perfect...you just need to work with what you have.
 
Consider when last year UGAg was 10-2, yet ranked No. 4, IIRC. Do they go, despite the fact that they didn't get a shot at the SECCG?

What about this year's Big XII situation when OU, TT & UT all finished 11-1. Take all three? If so, who get's snubbed in the process? 10-3 ACCCG winner VPI? 10-2 Big East winner Cincinatti? Politically is the BCS going to be capable of snubbing "BCS teams" that outright win their conference, despite rankings and records?

Possibly do it this way:
16 teams
11 Div 1A conference winners (yes, even from Sun Belt, Mt. W, C USA, Mid-America, etc.)
+5 "at large" spots based on polls.
But this very well could mean that a conference like Big XII sends as many as 4 in a given year (they would have this year).

Considering how TT did against Ole Miss, I would be against at-large teams in any kind of playoff. This isn't basketball with large numbers of good OOC games to help determine good conferences. Any decent team could look good when the rest of their conference is down just enough and when their conference as a whole has a weak OOC schedule, like the Big 12 this year.

Only let conference winners go in, no voting, no committees or any of that off-the-field crap. The UT/OU/TT was a once-in-a-blue-moon thing which happens from time to time in the NFL as well. If a crappy team like Cincinnati goes in, then they should be eliminated quickly too. After all, the NFC north also gets to send a team to the playoffs, even though other teams might "deserve" it more than the Vikings.
 
Go back to the old system. Assign completely arbitrary and mythical national titles. At least then, we'll all know it's made up.
 
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