Obviously everyone is going to find things to nitpick since everyone's personal rankings are a bit different, but overall I think these rankings are good. I know Dana said they won't necessarily be following these rankings, but I would be happy if they did.
Most of the complaints are about Bisping, Carwin, Diaz, Edgar, and Vitor, but all of those guys have skill sets to back up their ranking. Bisping keeps his spot based on how many good MWs have a recent loss to someone worse than Vitor. Carwin is a legit threat to anyone, even if he hasn't won for 3 years. Diaz' only loss was a controversial decision and even though he came forward and attacked the whole fight, he took less damage than GSP did against Condit. Edgar has lost 3 fights, but all very close fights against elite fighters. He is still an elite fighter, no doubt about it. Vitor gets his high ranking for the same reason Bisping does. He has been very impressive at MW.
Nobody said these rankings would be based purely on recent accomplishments, and I am glad these rankings seem to consider both talent and wins.