quote:
so lets say and 8-4 team surprised a 12-0 Oregon team in their conference champ. game..should this now 9-4 team go over your team rated 3 and lost to Bama who won the sec and was the only team to beat yours?

No, they almost certainly wouldn't be one of the four highest ranked conference champs. But let's extend your hypothetical to make it relevant.

In the rare event that less than four of the conference champs from around the country have good records (have several losses etc) I expect the committee would consider an at large team for a four team field. That would be a reasonable interpretation of their verbiage with respect to conference championships will be heavily considered.

Typically there are four conference champs with 0-2 losses from the major conferences and sometimes there have been midmajors like Boise, TCU, Utah etc who should have also been considered if they were ranked high enough compared to the other conference champs.

IMO the only way to make the playoff system work in college football is to make rules that are as transparent and as fair as possible. I'm not sold on admitting the top four ranked conference champs being an absolutely perfect system but it is a more objective system than anything else I've seen proposed.