Now answering the question: What I think about the new BW rankings?
Well, schools who do well brag about it, schools who do badly call it $#!&. Of course people in Chicago will brag about it, as did Kellogg and Wharton for a long time.
I'd say that no matter where the school is in the ranking, people shouldn't base their choice of where to apply "just" by that, I believe that it will influence many people though.
Schools have different approaches, values, and goals. Last year we were here talking about how interesting is that usually applicants don't get to both Kellogg and Chicago Booth. They are schools with different approaches and different student body, and usually either "south" or "north" - though I met form 5 to 7 people who got into both. There's no right or wrong here, as different people can find their "places".
My advice: don't apply just because of: rankings, name, selectivity, GMAT grade, etc. Apply because you will fit there, because the school teaches classes you want to take, because you can really go forward, otherwise it's going to be some awfully big bucks thrown away.