The playoff is significantly more exciting and creates more money for the Universities. I feel like there may a generational gap in this argumnet where the more seasoned fan remebers the days of the Rose Bowl and what it meant to get there. A lot of that history is lost on the younger crowd when an undefated season means you don't take the automatic bid to Pasadena, you play for the championship. I'd rather win the Big 10 and lose in a playoff, than go to Pasadena and win a bowl game that just punctuates the season. I'm sure lots of people disagree about that. Not to mention, other than USC, I really could care less about the PAC 10...I'd rather play 5 different teams this year than Oregon excluding Texas or Alabama.
It still sickens me that TCU, Cincy, and Boise don't get a shot. I don't know what the ramifications are once ESPN takes over the BCS, but I'm somewhat hopeful they can push a playoff through...say what you want about ESPN, but they know how to make a dollar. If a playoff generates more moeny, you have to think they have the leverage to make it happen.