The Pound for Pound rankings list should be based solely off 2 things: who has the belt, and what is their finish rate percentage.
I figured this out when I saw the below info from this article on Anthony Pettis (http://sports.yahoo.com/news/anthony-pettis-godfathers-son-150200027--mma.html):
"Which UFC champs have been the most prolific and daring when it comes to finishing opponents?
"Rowdy" Ronda Rousey tops the list with a perfect 100% finish rate in 7 fights (all in the first round and via her trademark armbar, of course).
Coming in second is the relentless rag-dolling machine that is Cain Velasquez (83%), followed by - surprise - Mr. Pettis at 82%.
Jon Jones is next with 79% of his wins by submission or stoppage.
Legend-in-the-making Jose Aldo is tied with Middlewight King Chris Weidman with 70% of their wins coming inside the distance, with Aldo teammate and Bantamweight interim champ Renan Barao just behind them at 67%. Georges St. Pierre, oft-criticized for his extreme caution inside the octagon, comes in at 54%, and Dominick Cruz at 37%.
It is also interesting to juxtapose Pettis' wins-by-finish rate with two of his predecessors. Frankie Edgar, a boxer-wrestler, won 44 percent of the time by sub or stoppage. Benson Henderson was slightly better at 53 percent."
So there you have it. Ronda is the best P4P fighter right now, followed by Cain, then Pettis. That Canadian fellar is nowhere near the top. Do you dare disagree with logic?
If you're curious, here is the current list based on emotions (source: http://www.ufc.com/rankings):
POUND-FOR-POUND
1 Jon Jones
2 Georges St-Pierre
3 Anderson Silva
4 Jose Aldo
5 Cain Velasquez
6 Renan Barao
7 Demetrious Johnson
8 Anthony Pettis
9 Chris Weidman
10 Benson Henderson
The P4P list should be based off skill. If everyone was scaled up to heavyweight, who's skill would give them the win over everyone else. 
Cory Davis - The P4P list should be based off skill. If everyone was scaled up to heavyweight, who's skill would give them the win over everyone else.
Ok, but that begs the question, how do you measure skill. To me, the obvious answer is you measure skill by the finish rate of a champion.
GSP doesn't have a high finish rate but would dominate most fighters.
Ok, I guess I'm gonna have to wait for some REAL AMERICANS to view this thread. Don't worry, I'll wait.
biva -LolCory Davis - The P4P list should be based off skill. If everyone was scaled up to heavyweight, who's skill would give them the win over everyone else.And they named him Georges.
It must be parody.
A fighter in a low level organization with a weak division would be #1 then. LOL.
It needs to be based on the level of competition one has faced and defeated, certainly finishing rates need to be considered as well.
WW and LW have the highest level of competition. HW and MW are relatively weaker divisions.
In that case manhoef is the goat