16 is too many.
It really comes down to only 3- MAYBE 4 teams at the end of the year that are clearly ahead of everyone else.
I say, keep the BCS around, and take the plus-1 and turn it into the plus 3 or something.
Let the bowls and conferences still jockey for each other, but have requirements for the final playoff spots. Like a ranking of at least .750 and no more than 1 loss. Maybe require that a team be confernce champ or co-champ.
It might be variable fromyear to year how many teams get in - like one year it's three teams, another year, maybe five teams. That probably wouldn;t be appealing to the networks, so make it a standard 4. But maintain that a team is a conf. champ, and has no more than one loss.