I agree with you Amdandrew. I too feel that BusinessWeek is the closest thing to an accurate ranking where MBA programs are concerned. This year, Michigan was #6 overall and #4 according to recruiters. That is an excellent showing. Historically, Michigan is #5 overall.
Historical Business Week Rankings:
#1 Kellogg
#2 Wharton
#3 Harvard
#4 Chicago
#5 Michigan
#6 Stanford
#7 Columbia
#8 MIT
#9 Dartmouth
#10 Duke
Here's a link to the historical rankings.
http://www.businessweek.com/bschools..._history04.htm