While your intention seems good, please think more.
There are many implementation problems. Some are-
Not an accurate description of a person’s ability. Earlier contest participants were as low as 1000 and solving cakewalk got a rank <400.
3 very different contests for long, cookoff and lunchtime. You cannot make 1 best rank. You need atleast 3.
As @ista2000 said, better fix some glitches right now. Changing things/Adding features instead of correcting old ones first will over complicate thigns and lead to more glitches/bugs.
A top percentile idea might have been effective, but its already implemented via rating graph.
As such, the idea doesnt seem very relevant to me right now. What is your PoV?
Actually it’s pointless. Ranks and ratings suggest virtually the same thing so why bother putting both up there. To see a user’s performance the graph is the best. But the idea of introducing a new measure of someone’s performance is good. It should be the concepts he/she has a grip on. Can be taken from question tags which he/she solved most.
I pondered on your idea. The top percentile thing seemed best, but its already shown in rating graph. Or do you want it to be explicitly stated under profile, exact numbers?
@spp___ please try to put your views in one go. Its not allowed to bump a thread uselessly to keep it on front page. One of the members got banned by admin in past for that.