I posted aversion of this general proposition on CF a while back, can’t recall if it was a thread I started or in a related discussion.
12-team playoff proposal
Selection process:
1. Full ranking of all 130 FBS teams is tracked beginning with first CFP “reveal” and is updated each week for the rest of the regular season/conference title games.
2. Top 6 automatic qualifiers, regardless of conference or CFP ranking, receive an automatic bid.
3. 6 best at-large teams are selected, based on CFP ranking.
4. Seeding based on CFP rank.
5. Opening round games at site of higher seed.
6. New Year’s 6 yearly-rotation for quarterfinal and semifinal games.
This season’s example:
Semifinal sites:
Sugar: 1-8/9 vs. 4-5/12
Rose: 2-7/10 vs. 3/6/11
For this demonstration, quarterfinal NY6 sites chosen randomly. Could be stipulations on location depending on regional interest or some-such.
Here's the bracket, using 2017 CFP rank (Conference auto-bid in parentheses)
Peach (Atlanta)
(1) Clemson (ACC) vs. 8/9 winner
Los Angeles
(8) USC (Pac-12) vs. (9) Penn State
Fiesta (Phoenix)
(4) Alabama vs. 5/12 winner
Columbus, Ohio
(5) Ohio State (Big Ten) vs. (12) UCF (American)
Cotton (Arlington, Texas)
(2) Oklahoma (Big 12) vs. 7/10 winner
Auburn, Ala.
(7) Auburn vs. (10) Miami
Orange (Miami)
(3) Georgia (SEC) vs. 6/11 winner
Madison, Wis.
(6) Wisconsin vs. (11) Washington
Selection process for other bowl games commences from there, preferably adhering closely to rankings of non-playoff teams.
Optional selection guideline: Seedings may be shifted one line to avoid regular-season rematches in opening round.
I also compiled a list of pros and cons for this format, but I prefer getting reaction at face-value. Within the topic of this thread, 2 pros are: (a) in principle, any FBS team could quality for the playoff; (b) Reasonable balance between “inclusion” (all FBS teams matter), while being palatable for power-5 leagues.