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Original Ape, what's up Frat! My idea is similar to yours and its been one that I've kicked around for a while.
Convert to a playoff format with the top 32 teams. Seeding and rankings would be determined by a BCS-type poll. Each game would be like a bowl game. For example, the first round games would be sponsored by the minor bowls (since the payout is smaller) and the semifinal and final games would be sponsored by the BCS bowls (Rose, Fiesta, etc.).This way, there are no co-champions, no arguments over who deserves to play in the championship game...and no whining from teams who are still undefeated after the regular season but did not get the chance to play in the championship game because of their conference. Also, since each game is worth a certain amount of money, the administration and board of directors are happy. Hell, the farther your team goes, the more money they make.
Keep in mind, this can also make very attracting matchups between teams who usually don't meet(Michigan vs. Texas, Notre Dame vs. Florida, Nebraska vs Oregon, etc.).
The only problem I see with this format would be greed and time. Anytime so much money is at stake, bad intentions can arise. A solution would be to reduce the amount of money each bowl would payout. Therefore, if you make it to the Championship game you would still make more money than the current BCS format, but not TOO much more money.
As far as the time issue goes, I think there is about a one month gap between the first and last bowl games. Under my proposed format, the most games any one team can play is four. Four games in four weeks isn't bad. However, because football is so physical the athletes may not be able to hold up. In any event, a 14/15 game season would be good preparation for those who make it to the NFL. If that doesn't fly, then reduce the number of teams from 32 to 16. Three games in four weeks shouldn't be hard to accomplish.
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