One thing that I like about selection of Oklahoma over Texas is that I like to see schools that intentionally fill their non-conference schedule with patsies to get punished. Usually they get away with it as the voters just look at the overall record and not do any kind of analysis, but in this case Texas got spanked for it (hopefully they won't back into the NC game with an Oklahoma loss).
Texas' non-conference schedule hasn't been very good recently. Mack Brown admitting he wasn't happy about Ohio State being on their schedule a few year ago wasn't a good sign. And looking at their future schedules it seem to be more of the same with only UCLA being a semi-decent program on it. Oklahoma on the other hand has done better (the inexcusable scheduling of Chattanooga notwithstanding), even Washington which was pretty bad this year has been a very good program historically (and these schedules are made well in advance). And on Oklahoma's future schedules I see big time programs like Miami, Florida State, Notre Dame, Tennessee and Ohio State.
As for the playoffs, I am against it. The last thing I want to see is for my favorite sport to become more like other less interesting sports (e.g. NCAA basketball, wake me up when the regular season is over). The only thing they should possibly consider is the "unseeded plus one" as that has the advantage of restoring the major Bowls to the relevance they had before the BCS came along. Also the voters need to punish schools that intentionally schedule cream-puff opponents. We need less of Oklahoma-Chattanooga, Texas-Louisiana Monroe & Alabama-Western Kentucky, and more of Texas-Ohio State & USC-Auburn games.
That's one thing I love about USC. They only get two optional games a year (since Notre Dame is a given), and almost always pick high quality opponents.
And I also agree with the playoff comment. In fact, I'd go one further, and say I'd actually prefer it go back to how it used to be. No BCS bullshit at all. Conference-tied bowl games, and coaches/writers polls at the end.