-16 teams, all conference champs + 6 best at-large
-First two rounds at home sites
-Sugar Bowl and Rose Bowl are permanent semifinal locations
-Championship game is bid out annually, like it is now.
Every team controls its own destiny at the beginning of the season. No more committees to decide who's worthy or not, with some poor soul like Gary Barta having to defend the indefensible. Every team has a chance to not only make the playoffs, but host a playoff game. The two biggest bowl games and their sanctity are preserved forever, and a whole institution can develop around "who's going to make it to Pasadena/New Orleans this year?"
It's so easy that, as Mike Leach would say, any community rec league director in the country could've figured it out 20 years ago. Yet, here we are, still watching the powers that be in college football almost willfully get there as slowly as possible, like a teenager who's been told to load the dishwasher.