What I have done is actually make 10 conferences with 12 teams apiece. They are matched up geographically. Lots of intrastate rivalries. I tried to make all teams from the same state in the same conference. However, this is impossible, so you will see Alabama,Illinois, and Indiana split up.
Some people wlll say this is stupid, but I thought it would be neat to actually sit down and figure this out. Sure we might lose some rivalries, but thats what an out of conference schedule is for. This system will also somewhat transfer the power balance from the elite conferences.
Actually in this system the old conferences are no more. So maybe people can quit complaining about whose conference deserves what. Now mark my words as soon as this happens some FBS team will decide they want to move up and that will create 121 teams. Oh no!!!!! Oh well make them an Independent until they're are 12 Independent teams and we can create another conference. Any takers??