Mago and Nemo created two lists - a "Global" list based on info they've compiled from talking to players, on message boards, etc. And an Arcadia list that they themselves put together.

"Global" Ranking

A
Guile, Abel, Chun-Li, Dictator, E. Honda, Boxer, Rose, Blanka

B
Ryu, Dhalsim, Claw, Ken, Rufus, C. Viper, Akuma, Fei Long, Cammy, Gouken, El Fuerte, Cody, Sagat, Ibuki, Zangief, Seth, Guy, Adon
C
Sakura, Dudley, Juri, Dee Jay, Hakan, Makoto, Dan, T. Hawk, Gen

Arcadia Ranking

A
Balrog, E. Honda, Guile, Fei Long, Cammy, Rufus
B
Abel, Dictator, Blanka, Chun-Li, C. Viper, Ryu, Dhalsim, Akuma, Sagat, Rose, Ibuki, Zangief, El Fuerte, Claw, Gouken, Ken, Seth
C
Adon, Dee Jay, Juri, Dudley, Cody
D
Gen, Sakura, Guy, Dan, T. Hawk, Hakan, Makoto