I know HMW and I have argued countless times over the whole "playoff vs. status quo" thing... so what's one more time!
- The whole "regular season won't mean anything with a playoff in place" is bullshit because the regular season is already rendered meaningless when you're a deserving #3 team that's right on par with the #2 team but you're on the outside looking in because the computers think you're .005 not as good as the #2 team.
- When the BCS does work it's much more by luck than by design, when we somehow wind up with only two undefeated teams in the end ('99, '02 and '05). Otherwise you get one of two scenarios: Either you have 3-4 teams all with the same record and the question is "which two are worthy?" ('03 and '04) or you have one top team and 2-3 teams with the same record and the question of "Which one of those is worthy to face #1?" ('98, '00, '01 and '06, Michigan controversy notwithstanding)
Unfortunately I've come to (unwillingly) accept the status quo for what it is, since the networks and presidents are probably never going to change things at this point. The ideal time to kill the system was after it completely failed in 2003, locking out USC in favor of OU and resulting in a split national championship, the very concept which the BCS was implemented to prevent
As 909 said, things were almost more preferable back in the days before they conceived this whole BCS mess.