Only undefeated team is Wisconsin (excluding UCF, weak schedule); they are clearly in.
Of the one loss teams:
-- Clemson lost to Syracuse (4-8 record, unranked)
-- Miami lost to Pitt (5-7 record, unranked)
-- Oklahoma lost to Iowa State (7-5 record, unranked)
-- Georgia lost to Auburn (10-2 record, ranked #6) by a score of 40-17
-- Alabama lost to Auburn (10-2 record, ranked #6) by a score of 26-14
Auburn has big wins over Georgia and Alabama, but also has two losses (Clemson and LSU)
Go ahead, try to make an argument for why ANY of the one loss teams should get into the playoff ahead of Alabama.
Pending the outcome of the championship games next week, the playoff should include Wisconsin, Alabama, Auburn, and Oklahoma.