I just have a problem with rankings. The preseason rankings get everything off on the wrong foot. Just because a certain conference has teams highly ranked in the preseason doesn't necessarily prove they are better. At that point, if they don't play a tough out of conference schedule, it's nearly impossible for them to drop.
To determine the "Best Conference"
1. Conference Strength can't be determined until the end of the season. We can go back and say, "This Conference was the best based on these wins and bowl wins."
2. They must win more than 1/2 of their Bowl games. Conference Superiority over other conferences can only be determined by defeating teams from those other conferences.
3. They must have 2 teams finish in the Top Ten
4. The conference as a whole must have 4 out of conference Top 25 wins.
5. The conference as a whole must win 50% of it's OOC games against BCS conferences.
6. The conference as a whole must play at least 10 OOC games against BCS conferences.
I like this criteria other than point #2. We may need to modify this. With 32 bowl games, 64 teams go bowling. Do we really learn much about a conference when 6-6 Alabama plays 6-6 Okl St?
Maybe we only look at how the teams that finished in the upper half of the conference standings do?
On top of that, many times, bowl games are mismatches. #5 Louisville versus #15 Wake Forest? #16 Rutgers versus unranked kansas st? Oklahoma versus Boise State? I honestly don't think we will learn much from these games.
But I do agree with you that bowl performance is important. I think that we need to look at the bowl performance. I just haven't figured out exactly what the criteria should be. Maybe we leave it as is, but maybe we need to tweek it.
I think we also must look at the end of season rankings more than what you have listed. Under your criteria a conference could be top loaded with 2 good teams that finish in the top 10. Those 2 good teams could win their bowl games and account for all the conferences big OOC wins. Then one 6-6 team from that same conference beats another 6-6 team from another conference, and they win more than 50% of their bowl games and qualify as a good conference with only 2 good teams. I think a good conference should have 4 teams in the final top 25 poll and 2 of them in the top 10. This stipulation will eliminate the conferences that are only top loaded.