i've come up with a reasonable way to rank/rate the ICC's teams. its not perfect, but it incorporates a few things that the ICC seems to ignore:
1) away wins should count slightly more heavily than home wins
2) instead of ratings changing on a match by match basis, it is perhaps better if they change on a series by series basis (makes calculation simpler).
3) any whitewash of 2-0 or greater should garner "bonus" points.
4) points lost and gained should always be zero sum
I have yet to acctually calculate the ratings, and I'm still not sure how to incorporate the associates in a meaningful, yet fully integrated fashion (if anyone has any suggestions, please come forward).
But I will consider all matches since the last world cup, and compare it with the ICC's official ratings to see how it stacks up.