4 DI conferences with stipends (EDIT: Current perks, like a scholarship, room and board, and so on, plus $2,000-$2,500 of spending money per year)

ACC
ATLANTIC
FSU
Clemson
WF
NCSU
Louisville (EDIT: Sorry about forgetting earlier)
Syracuse
Boston College

COASTAL
Miami
GT
Duke
UNC
UVA
VT
Pitt

PARTIALS (7 game min.)
ND
Texas

B1G
EAST
Maryland
Rutgers
Penn State
Ohio State

MIDEAST
Michigan
Michigan State
Indiana
Purdue

MIDEWEST
Wisconsin
Minnesota
Northwestern
Illinois

WEST
Nebraska
Iowa
Mizzou
Kansas

SEC
WEST
TA&M
OU
KSU
Arkansas

MIDWEST
Alabama
LSU
Auburn
'Ole Miss

MIDEAST
UF
UGA
Vanderbilt
Mississippi State

EAST
UTenn
USCarolina
WVU
UK

PAC-16
NORTH
UW
Oregon
WSU
OSU (EDIT: Oregon State)

EAST
USC
UCLA
Cal
Stanford

SOUTH
ASU
UA
SDSU
Texas Tech

WEST
Utah
BYU or Boise State (EDIT: BSU was accidently place in Colorado's place)
OSU (EDIT: Oklahoma State)
Colorado (EDIT: Sorry about forgetting you)

*The SEC, B1G, and Pac all have 9 game conference schedules. Divisions are made of two pods, and the divisions change every year, but the pods stay the same. Every year, each team plays it's division and two perm rivals.

*The ACC has an 8 game schedule that includes every team playing every other school in their division, a perm rival, and a rotating game against a team in the other division every year. In addition to that base conference schedule, each ACC team plays either Texas or Notre Dame every year in alternating years. So, an ACC team might play Texas, @ND, @Texas, and then ND in a four year cycle.

*the SEC would have their conference championship game in the Georgia Dome, the B1G would have it in Soldier Field, the Pac-12 would have it on campus, and the ACC would have it in Charlotte.

*The post season would consist of 3 parts: a playoff, a BCS, and a regular slate of bowls. Each of the four conference champions would get an auto bid for the four team championship tourney. In the event that either ND or Texas ranked higher than the lowest ranked conference champion, then the higher of ND or Texas could take that conference champion's spot. The #4 seed would play the #1 seed, and the #2 seed and the #3 seed would play each other.
**The Rose Bowl, the Sugar Bowl, and the Orange Bowl would host the tourney on a rotating basis, so that the Orange/Rose/Sugar Bowl would host the high seed one year, the national championship game the next, and the middle seeds the 3rd year.
**The losers of the conference championship games would play in "BCS Bowls," which would be owned by the conferences. The SEC would own the Cotton Bowl, the Pac-16 would own the Fiesta Bowl, the ACC would own the Chic Fil A Bowl, and the B1G would own the Capitol One Bowl. Each conference championship game loser would get a guaranteed spot in their conference's bowl and play an at large team. In the event that a conference championship team was booted from the playoff, the champion would get their conference's BCS bid, and the loser would get an at large bid.
**The conferences would then contract with bowls to sort out the remaining bowl eligible bowl-bound teams much like they have done in the past, only with provisions that allow for more rotation. For example, a conference might have a bowl tie in with the Pinstripe Bowl 2 out of every 3 years, the Gator Bowl 2 out of every 3 years, and the Music City Bowl 2 out of every 3 years.

*100% of the conference championship money would be kept by the conference hosting the tourney. The first round of the playoff would be split amongst the four conferences evenly with cuts going to ND and Texas. The conference championship would be split amongst the 4 conferences evenly, with cuts going to ND, Texas, and lower levels of football (i.e. the schools that got "left behind"). The BCS money would be pooled and part of it would be split amongst the four conferences evenly and the rest would either be given to the teams playing in the game (after ND and Texas got a cut).

*The Big XII would keep TCU, Baylor, and ISU, and add Tulane, Memphis, UC, Houston, Rice, and SMU
*The American would add UMASS and Marshall
*The rest of the conferences would pretty much stay as is, adding where needed.

*The "schools that got left behind" would play a BCS, like it exists now. The Big XII would play the American in the Liberty Bowl, the Mac would host a Chicago Bowl, the MWC would host a Seattle Bowl, and the CUSA would host a bowl in Florida, and the Sun Belt would get an auto invite to the MWC, CUSA, and MAC bowl on a rotating basis. the remaining two slots would be at large bids, and one of them would also host a "mid major national championship." The mid major BCS bowls would be funded through a combinations of their own funding sources (i.e. TV contracts, sponsorships, and ticket sales) and money from the P4 championship game.

*P4 schools would not be allowed to play FCS teams, but would be allowed to play mid major teams (essentially like BCS schools can play FCS schools now).

In basketball:

*The ACC would have a 4 game mini-challenge with the B1G such that every ACC team would play on home challenge game and one away game against the SEC every 4 years, and the ACC would have a mini-challenge with the BIG EAST.

*The BIG EAST would have a mini-challenge with the ACC and the B1G.

*The B1G would have a mini-challenge with the BIG EAST and Pac-12.

*The Pac-12 would have a mini-challenge with the B1G and the SEC.

*The Big XII would have a full (8 game) challenge with the AAC.