Just read through the full CSR (ranking) system that will be used in Halo 4.
1-50 : check
Ranked per hopper : check
343 responds to community feedback : check
I give this a solid 8 out of 10. Really glad to see 343 listen to community feedback (even if it was whining and trolling on the Waypoint forutms, etc.) and take actionable steps to correct course for the community. This is something that was severely lacking with the way Reach was handled. Good on you boys (and girls).
Would be a 10 if you could see the rank in game, but for now a Waypoint/Smartglass app will have to fill the void. Here's to hoping the team is already planning on this being in Halo 5 on launch day.
Source for those still looking
http://blogs.halowaypoint.com/post/2012/11/02/Halo-4-Competitive-Skill-Rank-Announcement.aspx
edit - Damn MLG, this commercial break is taking forever. (Really glad to have Halo back on circuit - at least for now).