We all prefer an undisputed national champion and most people agree that today's system is flawed. However, the Bowl system has its merits beyond crowning a National Champion, particularly that it adds another exciting game for fans of teams that are not candidates to win it all - such as Michigan most years (fact, don't hate me for it, let's just hope that changes).
The solution to the playoff question is so obvious no one can see it: Play more.
I know that football is and has always been a fall sport. I know that you will read my SN and hate on me for not recognizing American tradition. However, beyond "it's always been that way," please explain to me why football cannot be played for more than 4-5 months every year. Explain why most other sports in the world manage to have seasons that extend for at least 2/3rds of the year, but football can only be played for 1/3rd. Explain why our football hunger has to be starved during the beautiful spring when conditions are perfect for our favorite sport. Explain why stadiums that cost 100s of millions of dollars to build have to be left barren for such a large part of the year.
My dream setup would be a season with a fall schedule, a bowl season, a spring schedule and a playoff. We could play 8-9 games in the fall, teams with a winning record could get selected for Bowl games, those not selected would either get an extra spring game or not. The spring season could go from late February until the beginning of April where teams play 5-6 games, and an 8 or 16 team playoff could be played in late April with the final played in May.
Or it could be done differently, this is just one outline of how more of the year could be utilised. My point is that by playing more, we could get more football, the players would have more time between games to recover from injuries and the athletic departments would get more revenues. Everyone's a winner. Football is a year round sport for these athletes anyways, so the argument that they need to focus on their achademics is a moot point.
I know that football is the toughest sport in the world and demanding on the body, I have played it for 8 years in the US (HS) and abroad and I've been a fan for over 20 years. I am foreign, but I'm not ignorant. I don't buy the "football is so special our season has to be short"-argument. Maybe I'm wrong, but if you're playing that card, please show valid research to back it up.
The only argument I see against this is tradition, which is a very powerful and valid argument. However, I'm a dreamer and I would love to be looking forward to two more months of Denard now. Wouldn't you?