The plan at the moment seems to be to stick with the current BCS formula until 2010 (though the contract for it runs out before then) and add a plus one game system, effectively making two of the BCS bowls semi-finals.
The best, by which I mean most sellable to the schools, playoff option I've heard is to make the four BCS bowls count as quarter finals with semis afterwards. Basically it means the "traditional" berths in these bowls remain with at large spots allowing a Boise State type school to make it. There is a problem with this though as under this system Boise wouldn't have made it this year and that would have been farcical.
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