I'm actually torn on this. I do agree that it seems silly to keep 2 divisions if we ever did go to this.
With as weak as the MWC is, I think most years will put someone good against someone bad (if we remain with 2 divisions).
I would (if going to two highest ranked teams) eliminate divisions and go back to a "pod-like" system. Hear me out before crucifying. I would do 4 pods of 3:
1) AF, WYO, CSU,
2) USU, UNM, BSU
3) FSU, SJSU, SDSU
4) NV, UNLV, HI (HI is hard to place but have a good following in Vegas)
You will play everyone in your pod. That gives you 2 conference games. You then play 2 other pods (rotates) for a total of 8 conference games. 4 OOC games and you are set.
Highest ranked 2 teams square off in championship. Outside of AF and CSU, I don't really care who we play in conference and I think it would make for a better championship game.
I do think there is some validity to reformatting the CCG due the extreme weakness of the MWC. Sucks when you get a 6-6 vs an undefeated or 1 loss team.