I'm currently the resident bracketologist for SB Nation and I've been attempting to accurately project the NCAA Tournament field since 2006. My goal is not only to be correct in picking at-large teams and the seeding of all 68 teams, but to inform the public about the process and how the sometimes bashed college basketball regular season does really have importance. I'd be glad to answer your questions on how the field of 68 is put together, but I won't be much help with your bracket picks.
The Committee really needs to stop pushing the RPI so much, since it's not a basketball-specific metric (the NCAA uses it for various sports to compare teams). It also creates an issue when evaluating schedules, particularly since everyone's RPI and SOS pull into one another and it creates a feedback loop.
On the schedule front, I think the numbers get too much emphasis over the intent. Take Virginia, for example. While there were several teams on the Cavaliers schedule who probably weren't going to be very good, they did schedule a few CAA teams that in most years would have been an RPI boost. Plus, they played two of them away from Charlottesville (at George Mason and Old Dominion on a neutral court). They got burned by those good intentions when the CAA turned out to be historically bad this season. In short, the Committee should recognize that not all "bad games" are created equal.
I have more of a writing background than a statistical one, though I did a fair amount of statistical analysis in grad school. My focus was on judicial politics -- attempting to predict Supreme Court and Courts of Appeals decisions. Trying to predict the Selection Committee's behavior is actually rather similar.
In terms of selection, I got all (then) 34 at-larges right in 2008. In terms of seeding, which is more important since it's more difficult, I've done the best this season and last.
One of my friends challenged me to put together a bracket when I was in grad school, in 2002. I put it aside for a few years and decided that I could probably do a good job if I did it more frequently.
Any fan could probably do it, but most probably don't have the interest in rules, procedures and organizational minutiae that I do. It's not the simplest thing in the world to do, even if it looks like it.
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In my case, I'm a college basketball fan first. So my goal is to primarily show that there is worth in the journey not just the destination. Otherwise, there are two different skill sets at play here. Mine examines the big picture body of work. Picking the bracket focuses more on the small picture. Given that the tournament is a crapshoot and unpredictable things can happen, I stick with what I know and can explain fairly well.
I enjoyed Nate Silver's success as a person with two poli sci degrees. However this is a little bit different because I don't rely as much on computers as he does. Much of what I do relies more on history and anecdotal evidence.
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