The presidential oversight committee officially approved a four team playoff yesterday. It's far from perfect but it is progress. However there is plenty of skepticism. Dennis Dodd doesn't really see anything changing and Dan Wetzel notes the official Death of the BCS but points out that the playoff still contains the bowls and the corruption that has always been part of college football.
In the hoopla around the announcement of a 4 team playoff, the presidential oversight committee also announced that they had denied the MWC request for a BCS exemption for the next 2 years. This request has been drawn out for awhile and now denied without any explanation.