Three things....
1. It's funny how when we're in a position to play our way into the BCS game vs being a one-loss team and needing "help" to get in how the preference changes.
2. For those that talk about a playoff turning the season into "meaningless" like college basketball I think you're missing the point. In college basketball nearly 20% of all teams make the post season (65 of 347), even more if you include the NIT. A playoff in college football would be - at most - 8 teams, meaning 6.7%. For those that talk about the NFL, the percentage is 37%. I actually think the best pick would be 6 (5%) - two have byes and the other 4 play in.
3. A plus one just doesn't seem to get us much in the end. Look at this year... even in the best scenario two of the three "smaller" undefeateds could finish the season that way (assuming Boise and TCU meet in the Fiesta) and would have a legitimate argument that they should play us... but which one?
I really think a 6-team, 5 game playoff works well. You could even keep the current bowl structure intact... Rose, Sugar, Fiesta, Orange and the BCS game. In fact, I think it would only serve to STRENGTHEN those bowls in the long run.