The BCS gave us LSU-Bama so I don't trust that either.
I'd be ecstatic with 4 if it's limited to selecting from only the 10 conference champions.
If expanding to 8 with 5 guaranteed conference champions is the compromise necessary for that to happen, and it would appear to be right now, then so be it.
Any combination of Oregon, Bama, FSU, Ohio State, and Baylor would've been acceptable imo. So they got it right in the end... but I suspect given the chance, Miss St. would've been their 4th choice.
The other outstanding issue with this system is the game sites. OK, Delany cracked on bowls and left this conference as the only one w/o a semifinal in the region. But whoever is running the overall playoff has also made it abundantly clear that the "neutral" Final will not be held above the Missouri Compromise.