averagedawg is right! We need to remember (and I conveniently forget this as well) that under the current system, there is no system. That is to say that college football is a loose conglomeration of regional groups called conferences which are governed to a LIMITED extent by the NCAA. I am certainly no expert on this, but it is obvious to this point that the individual schools and conferences are the ones who make the final decisions.
The National Championship as we fondly like to call it does not exist; it is, as we have been reminded in the past, the Mythical NC. And that is exactly what it is. We do have currently a BCS Title game and title holder (ugh, dare I utter it; the current title holder of course being, the Gators), but that is the label, and it doesn't claim to be the definitive national champion. Although we all pretty well agree that the winner of the BCS title game is the NC.
Personally, I'm just fine with a Mythical National Champion.