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If the major conferences ( SEC, B?G, PAC, etc) do not have control of the outcome they will recreate the old CFA, and tell the NCAA to go pound sand. They like the fact they are in control and will not allow the NCAA to get in the way as it does in BB.
They wouldn't be able to do that. By separating from the NCAA - and basketball ironically - the economic bubble that the BCS AQ conferences (AQ is going away in 2014 BTW).....but they'd burst their media revenue bubble by forming their own league. They would not be able to self sustain the media contracts they've put themselves in place for.
There's also the issue of anti-trust when it comes to broadcasting if they try to do a CFA again. The CFA went away because of anti-trust and how broadcasting dollars shifting to the college football post season.
The NCAA has zero control over the college football postseason BTW.