And I need to add this, because I was confused about it for a long time.
It is NOT a plus 1 game. It's still the same, crappy, chaos-inducing situation. The #1 and #2 post-conference championship teams play in the BCS title game, and the other 4 bowls have hand picked teams. Here is an example:
#1 Auburn v. #2 USC - BCS Title Game
Texas (B12 champ) v. Virginia Tech (ACC Champ) - Sugar
Ohio State (B10 Champ) v. Oregon (At Large) - Rose
Notre Dame (At Large) v. Louisville (BigEast Champ) - Orange
Boise State (At Large) v. Tennessee (At Large) - Fiesta
You get the idea.