Here's what I'd like to see. It's very simple:
(1) SEC expands from 12 to 16 teams.
(2) SEC withdraws from the BCS cabal.
(3) SEC sets up its own 8-team end-of-season conference playoff, running over three weekends: The quarterfinals run the 1st Saturday of December, usually reserved for the SEC title game; the semifinals are on New Year's Day. The title game is a week later, directly competing with the BCS title game.
(4) SEC sells the 7-game playoff package to a TV network for $500 million dollars, keeps all of the revenue for the conference (rather than giving away BCS millions to the other leagues). Option open to split the package between current TV partners CBS and ESPN.
(5) SEC crowns its playoff champ, implicitly defying the anti-BCS AP pollsters to nullify the SEC's playoff system by picking a different, non-SEC, BCS team as national champ.
Only one conference -- the SEC -- has the credibility, clout and commissioner to pull this off. And they should.
This post is the evolution of an idea I first suggested in November 2008.
UPDATE: Predictably -- and as they did three years ago -- lots of people hate the idea. (But I'll bet SEC commissioner Mike Slive doesn't necessarily hate it!)