Naw I disagree. There is too much parity between the top teams so i believe 4 is a not a enough and have said so even before this stupid playoff system we have now.
It would also be hard to pick who would in that that other group of yours in my opinion and they probably wouldn't want it anyway. I have hated the bowls since I was little and I disagree that regular season would not mean as much in a full blown system
Probably have the same type of debates no matter where you have the cutoff. I'm with you on wanting 8 teams though.
1 Alabama vs 8 USC
2 OSU vs 7 Oklahoma
3 Clemson vs 6 PSU/Wisconsin winner
4 Washington vs 5 Michigan
Some great matchups this year