Flaws with plus one (4 team playoff): Much like the above, there will always be potential for teams on the outside to cry foul and that they should have been included. This year, at this particular time, a plus one seems like it would solve everything. We would have LSU, Alabama, Okie Lite and Stanford included. Each of them has 0-1 losses and the next team in line, Oregon, has 2 losses so they shouldn't be included. Works right? Solves everything. But wait a minute!! We don't have to look further back than last year to find that this isn't going to work every time. Last year's 4 teams would have been Auburn, Oregon, TCU and Stanford. Each had 0-1 losses. But left out of the equation would have been 1 loss Wisconsin and Ohio State. Wisconsin went on to beat TCU on the field so how can you say they shouldn't have been included? And so on...and so on...and so on.
Even this year with your example there's room for argument. Should Stanford be included simply because they are fourth when they didn't win their conference/division? Four teams seems like too small of a tourney when we currently have five conferences putting teams with good records (ACC, Big 10, Big 12, PAC 12, SEC). Someone is going to get left out if it's only four teams. I'd be more in favor of an eight team tourney with the five conference champs getting automatic bids and fill out the field with the three highest ranked teams that are not automatic qualifiers.
For this season it would be LSU, Okie St., Oregon, Clemson, and Wisconsin with the automatic bids and then Alabama, Stanford, and Arkansas fill out the field. Boise is probably the only team left out but it's not like a team they beat is getting included.
In 2010 is would have been Auburn, Oregon, Oklahoma, VT, and Wisconsin with the automatic bids and then TCU, Stanford, and Ohio State to fill out the field.