The issue I have with a playoff, especially a 8 team one, is the fact that you'd have to include all the champions of the six big conferences (ACC, Big East, Big Ten, Big Twelve, Pac-10 and SEC), leaving only two spots for at-large bids. Those bids aren't going to be given to the Boise States of the world, so you'd still have the same problems you have now with the BCS format.