Yep it will be interesting and not without controversy. As I understand things, the committee will come out with a top 25 ranking on October 28th, what I don't know is if it will be updated weekly, but I assume it will. So we'll know who the top 4 are and can follow it. I can see that because of this process it will be possible for a conference to get a couple of teams in the top 4. A team that wins it's conference championship but is a 3 loss team, may not be ranked ahead of two teams from a particular conference, one of whom is undefeated and the conference champion and the other has only one loss.
What I don't know, but I can see happening, is that the committee may have a weekly "justification" press conference where they explain why they ranked teams as they did. You see that now in the NCAA championship seedings, and I can see that happening in this new process.