At the end of the year, if we have 3 undefeated teams why should 2 get in, but one gets left out? A playoff system would allow the top 8 teams according to rank to go into a playoff and would be a better way of figuring out a top team.
At the end of the year, nearly every year, there are always people complaining that their team could have competed with the number one team in the nation (Georgia last year, USC year before, ect.) This would also give a chance for at large teams not in a BCS conference to get their chance to shine if they make the top 8 by years end. The facts are this is a more fair system and should be implemented immediately.

The problem with the current Bowl Championship Series system is that we can get into situations where more than just two teams deserve a chance to win the title. Does anyone remember the fiasco of the 2004 season when we had three undefeated teams or the 2007 season, when all the late-season upsets caused so much chaos in the polling?
This is why we may see a four-team playoff within the next few years. It would have the least impact on student schedules, and best of all usually the top four teams are the teams most deserving of winning the entire championship anyway.