Just reading the below article concerning the upcoming NCAA Convention I don't see any new classification level around the corner for our Group of 5 at all. The Big Boys do not want to leave the NCAA because of the structure of all other sports including March Madness.
Best thing that could happen for the G5 would still be an 8 or 16 team play-off as some of you have mentioned in the past. That seems do-able but will take a few years to happen.
Even a 4 team play-off leaves as many P5 schools (like TCU, Iowa State, Baylor Texas Tech, Duke, etc) out of the loop with no chance to ever play for a NCAA national championship as much as it does the rest of us.
http://www.cbssports.com/collegefootball/writer/dennis-dodd/24404728/ncaa-proposal-would-put-power-in-hands-of-bcs-conferences