This was what I got from the developer chat a couple of weeks before they added the projection report. This was in the November/December 2011 time frame.
Hi Seble, New release topic: Improve the logic for tournament selection/seeding - Way too much emphasis is put on wins. Not enough on rpi/sos and strength of conference. I've seen too many times a 20+ win team from a D1 mid major with 70+ rpi/sos get high seeds.. Need to look at the conference rpi. Tough conferences are the reason really good rpi/sos teams dont have 20+ wins. They shouldnt be penalized. Thanks (coach_ms - Hall of Famer - 2:42 PM)
I'll give a quick recap of the changes coming to tournament selection. The new logic will go through each team's schedule game by game and score the results of each game based on game outcome (win/loss), opponent RPI, opponent rank, score margin, and game location (home/away/neutral). The overall score for a team will be the average of the individual game scores. I like this method better than just putting weights on RPI/rank/etc., because it allows me to give credit for a good win and take away value for a bad loss. For example a bunch of close losses to really good teams will give you more credit now than in the old logic. There will always be debates about which resume is really better, but I think this will be an improvement.