I guess the ranking is important. But (and this is a big but) we have experienced over the last miserable 10 years or so, the rankings are not nearly as important as what you do with it. We have experienced not playing a guy where he should be played, criminally under or not at all developing the talent a guy has and in some cases, just offering and taking a player on "stars" alone and never understanding how a guy would fit the so called system. So ranking means nothing if you can't back it up with results.
Yesterday in a thread I saw a few programs mentioned who hardly ever have a noticeable class ranking and they seem to really preform well. This speaks well for these programs coaching staffs. Something we have not been able or should have been proud of recently, that is until now,,,,, it appears.