May have been said before, but I haven't read it, so this is my two cents.
Cent 1: The purpose of the College Football Playoff is to crown the #1 team in the country. That is all. It should consider the entire season of work. It is not to rank teams #2,#3, and #4. Therefore, if you are not a conference champion, or Notre Dame, or an ECU like team that has beaten VT, SCAR, and say UCLA, then you should not be considered. I think it is OBVIOUS that you are not the #1 team in the country when, no matter what magic you pull in January, if you are #3 in your division.
Cent 2: Since it has been said that conference champion will be heavily weighted, then there is absolutely no purpose in releasing these top 25 teams before the final week. It is like trying to bet on craps by seeing one roll of one die, half of your information won't be there.