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This is circular logic. The only constraint is the crappy system. So yes, this crappy system is the best system when the constraint is that you have a crappy system.

The constraints I'm talking about are the limit of a two-team postseason and the limits of self-made schedules and self-selected conferences.

The latter of the two is never going to go away and hasn't in any NCAA sport.

So that leaves one thing that could be changed to improve it, and that's widening the field a little bit.

But the whole system isn't crappy. I personally prefer the openness of the BCS system to the closed-room selection committee method used by every other NCAA sport.

I will back off what I said though. This isn't the BEST system under the constraints. It could be better if they allowed computers to consider margin of victory (at least to some maximum), they forced the computer polls to back-test their algorithms to prove they deserve one of the slots in the poll and they scored coaches rankings to eliminate poor performers (or just allowed every FCS coach to vote). But even if they did, I'm not sure that would have ever changed the participants in the NC game.
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