The BCS has been TERRIBLE, especially this year. 3 blowouts in 4 completed games (at least tonight's game is close, at the end of the first).
With that in mind, I present the following system, hoping it can actually make the BCS a fitting name:
First, get rid of the Coach's Poll-- They have enough to worry about to possibily watch every game each week. In its place, use the poll put together by the Book in Vegas. They have the most to lose when the poll does not accurately rank the teams, so it makes sense that a poll by them would be fairly accurate.
Okay, second, cut the bowl games down by 12, from 32 to 20.
The bowls recently have been very watered down, causing huge blowouts and matchups with some wierdly named school from I don't know where.
Here comes the championship part--keep the 5 BCS games and the 6 conferences the same. Have the top 4 teams in the BCS play each other and have the winners play each other a week later--basically a plus-one system. The bowls would consist of the 6 BCS conference champions and 2 at-larges. There is a pretty good chance that at least half of those conference champions in the top four, so there would be no problem. The bowls hosting the playoff part of the BCS would be rotated.
Finally, going back somewhat to part 2, play all BCS games (minus the national championship) on Jan. 1. Also, rearrange the 15 remaning bowls to be played from Christmas to New Year's Eve.
So, to wrap everything up:
Replace the Coach's Poll in the BCS formula with the Las Vegas poll
Cut bowls from 32 to 20, teams from 64 to 38
Have the top 4 in the BCS play in a 2 round playoff
There you have it, the bowl pureists are happy, and the school presidents and TV get their BCS money.