Here's an interesting defense of the tie in college football from The Unbalanced Line.
If you haven't read it, The Unbalanced Line is an Army Football blog with a very strong sense of history. Check it out. It even has links to very old Rutgers yearbooks.
I'm not a big fan of overtime myself. For one thing, the Scarlet Knights' record against a certain team from West Virginia would look a little better if overtime had never been invented. If I'm reading the all-time record correctly, I only find 4 Rutgers games that have gone to overtime since 1997: a loss to Pitt, a win against Syracuse, and two losses to West Virginia. I agree with The Unbalanced Line. Bring back the tie. 2006 would have looked better with an 11-1-1 line than 11-2.