I play very high levels of hockey so as you would assume im very competitive. I loved Halo 2 and Halo 3 ranking, but not because they had these amazing formulas that worked perfectly. It was just the fact they had something visual that other players could see how good I am. I know it sounds egotistical and sad but thats exactly how every game is. Does it really matter someone can shoot a 3 point? No, but do millions of people watch someone do it? Yes, because THEY CANT.
My whole point is that Halo is a VIDEO GAME. We play games to win and show we are better than someone else. As for some evidence: With Halo 3s' easily manipulated flawed ranking system we saw more than double people online on average compared to Halo reach. Why? because Halo 3 had a real ranking system (based on varied skills). People would spend hours and hours getting better to reach higher rank not just killing grunts over and over. This made those ranks have meaning and people wanted that recognition. (Again these were easily manipulated but thast not the point)
I say we have a simple ranking system such as every sport leauge in the world has. Win, loss, and tie. No resetting every couple of months... AND your teamates rank should not affect anything.