One aspect of college football that I hate is the concept of "ranking" the teams in order to determine who is the best. For some odd reason, we've allowed #1 and #2 to be considered the only two teams worthy of being in the discussion of who competes for the championship.
Fiutak's point is valid. The SEC champion is worthy of winning the national championship every year. I don't care if it's a two loss SEC champion while Ohio State and Texas are both undefeated. The SEC team has competed in the toughest conference and proven to be the best team in that conference. However, we all know that the voters wouldn't allow that two loss SEC team to get into the championship talk, which is why ranking teams based on personal opinions doesn't work.
There's so much stock in going undefeated that it clouds the real goal of competing in sports - to put together a team that can perform at a high level in the regular season and earn its way into the postseason. Every sport and every league works this way except for college football. In the NFL, you navigate through the regular season trying to earn a spot in the playoffs. Same in the NBA and MLB. In college basketball, you navigate through the regular season trying to earn a spot in the tournament of 64 teams.
Once a team gets into the postseason, they begin trying to knock off the other teams in hope of being crowned the champion of the season.
In college football, on the other hand, you just navigate through the season trying to go undefeated (or have the best overall record). Once you go undefeated, you hope you have the reputation of being one of the best two teams. Then you are awarded the chance to compete for the championship.
In my opinion, when there are 120 teams competing in the same division (about 70 teams in BCS conferences), you are never going to narrow down the field to simply two teams that are worthy of being crowned champion. The SEC champion is a prime example - no matter how many losses the SEC champ has, they are still worthy of winning the national championship.
This is why a playoff is needed.