If hypothetically this was still the big ten of before divisions but a playoff system, OSU and Penn State would have shared the big ten title. But as far as the playoff team OSU would have the edge because of better overall record and higher ranking. The obvious problem we have now is
1. A lot of teams have better resumes than division champs
2. Certain divisions are tougher than others
3. One game should not determine a conference champ. Ex if somehow a miracle happened and Florida beat Alabama no one thinks Florida is better.
Obviously conference championship game weekend was pretty much created as an extra weekend and money grab, so if they're going to do this why not just add another weekend? Go back to shared titles and highest ranked team gets into the playoff. Obviously there's the argument then that the four best teams should still get in and if two teams in one conference still appear best so be it. Obviously I like the fact that Michigan still has a chance, but not really for the fact that Clemson and Washington are playing extra games. Based on resumes Michigan clearly has a better one than either two, but if all three teams played 13 regular season games and went 11-2 it would be a no brainer.