I like when threads go the way this one has. It gives you a better insight to those who participate in it. Even though that was not my intent when I started it.
It was a joke. I just remember a group of MIT coworkers trash talk their Harvard coworkers because they couldn't get into MIT and had to settle for Harvard.... like Sheldon trash talk his roommate for being just a master instead of a PhD....
As to ranking, I don't think within 10-20 ranking in the entire country is anything more than a rounding error. You obviously won't think San Jose State being on the same rank as MIT but between MIT, Princeton, Cal Tech, etc, the undergraduate dept is definitely rounding error in ranking to me.
For graduate level you probably should look at which professor you want to research under. That IMO means more than which school you want to go to. I once had a TA who went from MIT to a 2nd tier UC because he wants to work under the best professor in a particular field, and that guy is in that 2nd tier UC.