Logic behind Mixed Martial Arts rankings

Rankings. They’re addictive and endlessly debatable, or are they? One of the great features of Low Kick is the option to submit your rankings for the respective weight classes and of course, the revered and glorified “pound for pound” list. 
The question I have been asking myself for weeks now is what gives a fighter the right to be in the top 10? Should it be based on skill alone, the physical abilities that fighter appears to exhibit against his opponents? if so then the likes of Alistair Overeem,

Todd Duffee vs. Alistair Overeem is still in works for Dynamite!! 2010 (Updated)

With a proposed bout between Alistair Overeem and Bobby Lashley now dead and buried, “The Reem” was left searching for an opponent. But just a few short hours ago, rumours surfaced of a potential fight with Former UFC Heavyweight Todd Duffee.
Reports were quick to surface that an agreement was possible, with both sides locked in tense negotiations earlier today, and it looks like the fight will go ahead with Duffee releasing the following message via his own Facebook:
“Have no plans on NYE? Dream

Five Conclusions from WEC 53

With WEC 53 now in the books, the promotion officially merges with the UFC, and the doors close on the WEC. With the merger, Anthony Pettis will face with winner of UFC 125’s Lightweight title bout between Frankie Edgar and Gray Maynard in a title unification bout. As of last night, Dominick Cruz successfully defended his WEC Bantamweight title, and was also rewarded with the first ever UFC BW title. With the merger, influx of talent from overseas, as well as the now seriously stacked Lightweight division,