Yawn
this topic again...just because there is no clear standout team doesn't mean the rankings are bad - it's just that EVERY team has a problem. I could have told you that Australia aren't a very good #1, but that doesn't mean the rankings have stuffed up.
Here are the W/L stats of the top 8 teams against each other since the last World Cup:
England, P23, W14, L7, T/NR2 (W/L = 2.00)
South Africa: P11, W7, L4 (W/L = 1.75)
India: P30, W17, L10, T/NR3 (W/L = 1.70)
Australia: P26, W13, L12, T/NR1 (W/L = 1.08)
Sri Lanka: P38, W15, L21, T/NR2 (W/L = 0.71)
West Indies: P19, W7, L11, T/NR1 (W/L = 0.64)
Pakistan: P18, W6, L11, T/NR1 (W/L = 0.55)
New Zealand: P3, W0, L3, T/NR0 (W/L = 0.00)
Combine that with the World Cup results, and what we knew before that, tell me who who you guys think should be the #1 team in the rankings...
Just as an aside, how the hell are we supposed to have a good rankings system when NZ has played just 3 meaningful ODIs in the last 14-15 months while SL has played 38!!