Fixing Law School Admissions

Christine's got an interesting post up on Conglomerate Blog about fixing law school admissions.  She observes that because schools now operate under the shadow of US News rankings methodology choices, the key is to lobby US News to change their methods to have a more nuanced view of applicants than strict reliance on UGPA and LSAT.

I have to wonder whether and why the market for providing rankings is failing here.  US News has been good as an information forcing device, but presumably someone could generate a blend of Leiter's faculty rankings (esp. one that goes deeper down the chain) and the kind of decisionmaking Christine advocates.  The other rankings I've seen are hard to take seriously, as Kaimi noted. Is this a market failure? 

Maybe it shouldn't be "rankings" so much as information spreadsheets available that people could plug in the factors they think are important and generate new rankings that are tailored to their tastes.  Some people may want to run models of rankings that bracket library size or something like that. Hmmm...does this exist anywhere already?