I think it should be a 6 team playoff. 5 conference champs and 1 wild card (from any conference). Give top 2 teams bye and have the other 4 play, higher seeds host. Gives fans at host schools a chance to not have to have three trips, ensures sellouts. Then do bowls for semis and finals.
I'm thinking it's tOSU, Big XII screwed themselves by having only 10 teams and no conference championship game (they can thank the people in Austin who really control that conference). Oklahoma losing at home to OK State is gonna hurt both Baylor and TCU. Bob Stoops ought to have his agent checking into the Michigan job, I'm sure people in Norman are not very happy with him.