[HajiShirazu]

Ripoff from soccer and have a promotion/relegation system. Have the BCS conferences be division I (but equalize the number of teams), lump the mid-major conferences that are basically DII now anyway and have them be DII, and have the "championship division" be DIII. Bottom team in each conf. is auto relegated, top team in each DII conf. goes up, and 2nd worst have a playoff with a 2nd best DII team. Same for DII/DIII. Relegate/promote teams into conferences that make geographic sense whenever possible (or just have the conferences each have agreements with one another).
Each team plays 8 conf games, 2 against DI, and 1 against either DII or DI, to allow for traditional rivalries/matchups.
Best record in each top 6 conference goes to 8 team playoffs along with two wild cards. Have a DII playoff among conference winners as well.
Obviously the money/contractual issues would make this difficult but in the end there would be way better games and more excitement for fans of both small and big colleges.