[Beetle01]

I believe a 8 team playoff is the way to go. You can still use the BCS system for the top 4 teams, and will be seeded as such. The final four spots will be filled by BCS conference champions not seeded in the top 4. 90% of the time there will not be any, and at the most you will have 2. The rest are filled in by AP voters, so that if people feel that a mid-major deserves a chance to be in there they shall get in. Those teams will be ranked in order of votes recieved.
The major bowls will have a rotation that goes
#2 QF ---> #1QF--->#2SF--->#1SF then back to the begining. The bowl who's site is hosting the National championship will have the #2 QF to determine initial starting order.

So instead of their being just 1 or 2 bowl games that gain high national ratings, there will be 7, and the BCS playoff will be the most watched sporting event every year.

You can also designate 2 bowls for the other 2 first round playoffs. Those bowls can be rotated with other non major bowls or they can be permanant/contract length. The money that teams are to recieve will all be put into one lump sum. Winner 22%, 2nd 18%, SF losers 30%/2, First round losers 30%/4