I don't follow NCAA football that much (aside from NC State, and QB Phillip Rivers is getting the Heisman shaft), but I think it's ludicrous that a team that loses their conference championship game, in blowout fashion, and holds the same record as the other Top 2 teams, still gets to play for the National Championship while the No. 1 team in the 2 other polls that actually matter, plays 2nd fiddle.
"Second fiddle"? No, not really. If USC wins in the Rose Bowl, they'll be guaranteed a share of the championship with whoever wins the OU/LSU game, so it's not like they're totally ass-out here.
There are definite problems with the current system, but there's not a whole lot to do when there's three one-loss teams--someone's going to get left out. (And they don't all have identical records--OU and LSU are both 12-1, and USC is 11-1).
When that happens, what other option do you have than to look at the quality wins and losses that each of the teams had?
Looking at those, OU deserves to be in the title game just as much as anybody.
OU: Quality wins over Texas (5) and Oklahoma St. (22)
Lost to Kansas State (10)
LSU: Quality wins over Georgia (11) (twice) and Mississippi (18)
Lost to Florida (17)
USC: Quality win over Washington State (14)
Lost to California (unranked)
Now, I'm for a playoff system, too, but that doesn't matter. Doesn't matter that OU lost on the last day of the year, just like it doesn't matter that USC lost two and a half months ago. What does matter is that both OU and LSU have better wins than USC, and better losses, too.
My new favorite team, by the way, is Michigan.