Excellent. I'm so used to having everyone complain so much at the end of the season I'm just glad to hear that's done with.
For me, I don't see this as a better way of crowning a champion, but I don't think it's any worse either. The big upside is that the non-title games should be a lot more interesting & competitive than the BCS provided.
The only tiny fear I have is the selection committee. There's no way to know how it will actually work out yet, but it's a fair bet that it will basically be a poll, with fewer voters than the current polls, and therefore more room for bias. It shouldn't be a huge deal as long as transparency continues to be a priority, but OTOH, I kind of feel like "good luck with that" . . .