There will be some important people making decisions that will change college football forever, and hopefully for better with some sort of playoff. The three ideas gaining steam are a four-team playoff with the four best or highest ranked teams, a four-team playoff with the four highest ranked conference champions or a plus-one after the bowl games with the two highest rated teams.
Now there is a new wrinkle where the Rose Bowl wants to keep their traditional tie-in with the Big 10 and Pac-12, but I don't think it will make everyone happy.
An excerpt from the USA Today:
In the latter plan, the four highest-ranked teams at the end of the regular season would meet in semifinals unless the Big Ten or Pac-12 champion, or both, were among the top four. Those leagues' teams still would meet in the Rose, and the next highest-ranked team or teams would slide into the semis. The national championship finalists would be selected after those three games.
So, this would be some sort of hybrid playoff scenario, but there are many problems I see in this. First off the Rose Bowl is an awesome bowl game and one of the few I actually sit down and watch, but the bowl wants to keep their tradition alive while everyone else wants to move forward.
This plan can either greatly help the Big 10 or Pac-12 or hurt them in a quest for a national championship. For example if the Big 10 or Pac-12 is ranked in the top four they would play in the Rose Bowl and then if they are chosen -- by whatever metric that could be in place like the polls or another round of BCS or computer rankings -- they would likely go to the title game. However, that is not fair to the other four teams who would at worst be ranked No. 6 and one of the winners would be left out, and what happens when a No. 2 ranked Oregon Duck team plays a No. 11 Ohio State team.
If Oregon wins they are likely moving on to the title game, but they also would have faced an easier opponent instead of facing the No. 3 ranked team if there was a four-team playoff, plus one of the winners in what is to be a semifinal game is not going to move on.
The other extreme is if the Big 10 and Pac-12 champions are No. 1 and No. 2, thus creating a de facto national title game, but not really. Also, by going this route it could open up one more slot for the No. 5 or No. 6 team in a playoff, they really have no shot of leaping up to the No. 2 spot since the game is not a true win and advance model. Rather a win and hope things bounce the right way model which is basically what the BCS is now.