Div. III Playoff Selection

I have been trying to get my head around the Division III playoff selection process and wondering who might be an at-large team.  In all, 32 teams will make the playoff field - 25 conference champions, one bid for a team that belongs to a conference that doesn't get an automatic bid, and lastly, 6 at-large teams.  The playoff picture will clear up after this weekend's action, which will decide the remaining conference champions, but one thing that does seem clear to me right now is the fact that anyone with two or more losses will be looking in from the outside...