A joke? How could that be when Oscar doctord it all up to go with his Ring Mag. e.g. http://www.boxrec.com/ratings.php?sex=m&division=Light Middleweight
Boxrec also gives more credence to 'world' title fights, and to a lesser degree domestic clashes. For instance - if a fighter wins the British title he is almost always the highest British fighter in the rankings, unless of course a Brit is at world level or holding a title. This can create an anomaly where a fighter vacates the British title and goes for the European and loses say by controversial SD on the continent - eg Colin Lynes at 140.
That's not true. The formula does not take titles into account at all. Here is the methodology for anyone interested: http://www.boxrec.com/media/index.php/BoxRec_Ratings_Description