BCS rejects the plus one 4 team playoff system.

I have to disagree with everyone saying a playoff would devalue the regular season. You're fighting for the top 4 or so spots in the country. Just like the system now, one loss can take you out of that top 4 or so. 12 teams with one loss have been left out of the top 4 in the AP poll since 2002. Losses would be just as costly as they are now. The regular season would be just as intense, and I can't even imagine how great a playoff game would be in Tiger Stadium, or Neyland, or Jordan-Hare, or the Swamp, etc. You would maintain the intensity of the regular season, while creating an atmosphere unmatched in any other sport in the playoffs. If this were to happen, and you would stop watching all the games because of some 'devalued' regular season, I would really have to question your loyalty as a fan.