There was a major public rebellion against the U.S. News and World Report Rankings for colleges last week, when a group of colleges called the "Annapolis Group" vowed to stop providing information to the rankings survey.
This morning there is a podcast of an online debate at Inside Higher Education between Brian Kelly, editor of the magazine, and Lloyd Thacker, founder of the Education Conservancy. They debate the pros and cons of the rankings and their usefulness.
It will be interesting to see if this movement grows.
The podcast is in mp3 format and lasts about 30 minutes.