If there are going to be automatic qualifying conferences and automatic qualifing teams (Notre Dame) then a playoff for DI college football should have all 11 conferences (holding at 11 by a thread) should have a automatic bid. Here is my 16 team D1 playoff tournament if the season ended today. I am using the currentBCSrankings, not because I like them, actually I want them to consider quality wins way more than the current system.
1. LSU (1) Sec Champ 16. La.Tech (56)WACChamp
8. Houston CUSA Champ (8) 9. Oklahoma (9)At Large
4.Arkansas(3) At Large 13. West Virginia(22) Big East Champ
5. Stanford (5) At Large 12. TCU (20) M West Champ
3. Oklahoma St(4) B12 Champ 14.ArkSt (35) Sun Belt Champ
6.Va.Tech ACC Champ 11. Michigan St (14) Big 10 Champ
7. Boise St. At Large 10.Oregon(10) P12 Champ
2. Alabama (2) At Large 15. N. Illinois(36)MACChamp
There is no limit on the number of At Large teams per conference. Kansas St (11) andSouth Carolina(12) were two best teams left out. They are higher ranked than the Big 10, Big East, Sun Belt,MACandWAC. After the remaining games the teams will change.
If you want an 8 team no automatic bids playoff then you would get the top 8 seeds. That would be the Sec Champ, B12 Champ, Conf USA and ACC Champ and 4 at large teams including Stanford and Boise St who are higher ranked that the teams that will win the League.