I would honestly be ok with using a BCS-type formula to select the 34 at-large teams. Keep the auto bids to the conference champs.
I'm even ok with the BCS formula being applied in football. My problem is that they don't use it more widely. They only use the BCS rankings for the top 2 teams. If the BCS standards for a BCS bowl berth were finish in the top 10 of the BCS standings I think the system would be much more fair than it currently is.
Using computers, IMO, is not a bad things. If the formulas are sound then use them. If you have enough different computer ratings then the quirks in each are kind of nullified and the best teams come to the top.