As an Auburn fan, my response is obvious. With the current system in place, the media seems to have total control on who gets to the big show.. which is against everything college football is about (tradition, etc.). Preseason polls control the destiny of most teams. Repeating the same story over and over, Auburn beat more top ten teams that year than any team in the history of college football (could be wrong). Your talking about a team that beat 5 top ten teams in one season, played a team that should've beaten USC to begin with (obvious bad ref call in the Tech vs USC game), and sat at home only to watch one of the worst matchups in BCS history.
How many more blowouts of a BCS bowl game do we need to watch? How many times does Boise St. need to go undefeated to even have a shot? What about how tough the SEC is every weekend? I'm willing to bet a 3 loss team in our conference could very well compete with the best in the country.
Then you have the Notre Dame issue. Thats a whole story in itself. Automatic bids to the BCS depending on record, millions of dollars awarded to the program (no matter the wins or losses) just for "participating" in the BCS format. Hell, when the BCS meetings take place, the Notre Dame AD gets a seat all to himself whereas all other conferences are represented by a single person.
It's obvious that the current system is flawed. I dont want to see a 16+ playoff, but it'd be great to see the top 6-8 fight it out against each other... with the best being the NC winner.