This should be fun...
This list is not comprehensive but we have to start somewhere so here goes.
If college football had a commissioner, and I were in fact that person (head for the hills!), here are various policies I'd chase/enact:
---Comprehensive Schedule Reform: First legislation item signed would be that D-IA teams may only play other D-IA teams. The day of the cupcake is over. I would also strongly encourage every BCS conference team to play other BCS foes or quality non-BCS teams in out-of-conference play. Games between powerhouse schools (USC/Notre Dame, Ohio State/Texas) would be incentivized with cash from NCAA coffers.
---Comprehensive Poll Reform: I'd work with the Associated Press to assemble a more engaged, talented group of voters for its poll. I'd use NCAA money to send necessary information to all voters and pollsters such as full DVDs of all available games, or at least significant portions of the games, plus copious statistical information, quotes and stories of all games played each week. Pollsters would be given several days to digest the material and not be allowed to send their ballots until Wednesday morning at the earliest. Poll release would tentatively be scheduled for Thursday at noon Eastern time.
---Clarification on Postseason Play: No playoffs. Ever. The Rose Bowl would entertain only the Pac-10 and Big Ten champions. If that were to disrupt a BCS championship game, tough. Also there would be a reduction of bowl games. There are simply too many bowl games right now and I'd work to phase out a few a year until the number settled at around 15-20 games.
---Football Saturday: I saw this somewhere else and I like the idea; like the NFL, college football games would start at similar times. For example, all morning games would begin at say, 11 a.m. Eastern, and then the next round of games wouldn't kick off until 3 p.m., followed by more games at 7 p.m. and then a late flurry of 11 p.m. games. One could channel-click at home with ease knowing each game watched would be at a similar junction as all other televised games.
---Preseason: I would allow every team one local exhibition scrimmage (minimal contact) against a nearby foe that wouldn't count on the schedule. No fans or media would be allowed, but it would help teams smooth out a few rough patches before their first official game. I would also bring back the various preseason classic games, which would count on the schedule. It would be a great opportunity to schedule quality OOC games on opening weekend and help promote the sport.
---Eligibility: Players will have five years of eligibility, period. There will be no redshirts, but players can apply for a 6th year of eligibility if faced with unusual injury, personal or family circumstances. Transfers would no longer lose eligibility but must continue to sit one year before being allowed to play in games.
---NCAA Reform: The rule book would be burned. A committee would be formed to greatly simplify the NCAA's mission to a few basic principles (think the U.S. Constitution---brilliant and concise, with delegation). The majority of rules should be created to maintain 1)academic integrity and 2)fairness throughout the game. Nearly everything else would be superfluous. The NCAA would make many more rulings on the issues that come before it, making its mistakes but also setting precedents that will help clarify what is right and what is wrong. Most people understand how our courts make their decisions and can reasonably anticipate how a judge or jury will react to a case. In college football, it's almost the exact opposite. The NCAA is simply too inconsistent and dark and distant. Time to bring it into the light and create consistency in its rulings.
---Other Concerns: I would encourage a reduction in the number of D-IA teams. We're at either 117 or 119 teams right now, which is ridiculous. Ideally D-IA football should have anywhere from 80-100 teams. Dropping a few D-IA teams would strengthen the quality of lower division football, making it more watchable and popular while also scraping away a handful of persistent losers from the D-IA ranks. I would encourage the various conferences to find a way to reduce their numbers into something more like 10 teams. Thus, round-robin play could be institutionalized and we wouldn't have to fret about certain teams playing conference title games and others not doing so. Finally, I'd make it so that teams participating in 6-3 type games would both be credited with a loss. That's not fun for the players, and it's not fun for the fans.