I think what most do not want is the "Conference Championship" games not mattering anymore, and/or the regular season.
Besides middle of the Road Teams in Basketball, or "bubble" teams- the Conference Tourney is pointless. Just adds wins to the total, or if you have injuries as a 1 or 2 seed to your main players in Basketball you can rest them and take an L.
Obviously, my point (as others mentioned previously)- is that teams that go 10-0 and have 3 games left, no matter the competition, could "afford" to lose one or two games and still make the playoffs. Look no further than some of the NFL games in weeks 16 & 17 that had no relevance on playoff positioning (even though some did). Plus theres no 'fair' cutoff point in the rankings.
To sum it all up, basically, the only possible playoff structure that is "fair" is a +1. The way the BCS verbaige is spelled out, dictates the top 4 in BCS are ensured a spot in the BCS selection. So, it's very easy to state that those same 4 teams 'playoff' for a Championship.
It also aligns every teams goal is to get into the top 14 to get into a BCS game. The other BCS teams (#5-#14 or ten teams remaining) are chosen to play in the existing BCS games plus the Cotton/Cap1 bowl according to the current selection process. Those three additional BCS games from this 4 team playoff are played on a rotation between the 5 BCS Sites. The 1 v 4 & 2 v 3 games are played 1-3 days after the designated site. The Championship Site is a different site from the first round 7-10 days after the first round is played.
Using this year as an example: Rose, Orange, and Sugar are the "playoff" sites. The Rose & Orange are the first round games 1-3 days after the actuall games with the Sugar hosting the National Championship like they are supposed to this year. Dates are below using this year as an example.
Regular Rose Jan 2
Regular Sugar Jan 3
Regular Orange Jan 4
Playoff Rose Jan 5
Playoff Orange Jan 6
BCS Champ Sugar Jan 14
Any non-BCS Bowl that loses a traditional selection to the new BCS +1 will be allowed to chose from ANY team remaining in the eligible pool of D-1 teams (meaning any conference.) Each bowl would be placed into tiers allowing the bowl reps to literally have full control of picking either a great matchup by records or by old/new rivalries.
Outside of "trimming the fat" of nominal bowls, and how 'loyal' they are to respective conferences. I think they are all loyal to $$, which is what this fat cash cow would bring.