Yes, for years, the current B.C.S. system has proven to be flawed to the point of inferior teams advancing over superior teams. Lawsuits have been filed against the B.C.S. as a result to being flawed. The B.C.S. uses statistical data to determine team ranking. The flaws in looking only at data have resulted in teams with lighter schedules (playing many inferior teams) to appear better than they are. Teams especially in the S.E.C. are notorious for running up scores (continue to keep first string players in the game to increase the final score) against much inferior teams in order for the computer to give them a better ranking. Additionally one lucky win by an inferior team can eliminate a superior team under the current B.C.S. system. It is time for college football championships to be determined by using the proven playoff system, a system that works for the pros. A system that truly matches teams in real-life game play, not predictions from a computer.
No, a 4-team college football playoff is not a good way to determine champs, because only involving four teams is not enough. Sometimes a team will bloom late in the season. If only four teams make it to playoffs, that team will miss their opportunity to win a championship that they might be able to win.