Going back a few years and using the final rankings we would have had 2010 Auburn-Stanford, TCU-Oregon, 2009 Alabam-TCU, Cincy-Texas, 2008 Oklahoma-Alabama, Florida-Texas, 2007 Ohio State-Oklahoma, LSU-Virginia Tech, 2006 Ohio State-LSU, Florida-Michigan.
They look like good match-ups. I would prefer that the top two teams get to have the game on their home turf, like the pros do. Put the championship game in some sunny spot. Also not too sure about this committee thing. Your have rankings, computers etc, and this group could throw all that out and pick the 4 they want? I am guessing 1-4 will get it most times but could they drop the 4th place team for someone else for whatever reason? That won't cause too much of a controversy.
I think a plus 4 is good. Usually the quality of teams drop significantly from 1-5 compared to 6-10.
My interpretation is that a committee would have those tools available to them and make a decision based on polls, rankings, etc., but also with the human ability to compare head-to-head, SOS rankings, conference strength, other factors, etc.. e.g. See NCAA Basketball Tournament.