I think something along the lines suggested in the first post might make most sense. Losing a lot of games should definitely amount to something although at the moment I'm not too happy about this myself. It's still the only way for the ranking system to work properly and without a lot of bias so I am in favour of the proposition.
And since it's relatively close to the topic at hand, a couple more things about the ranking system. First off, there should be a list for the winners of recent games like in the earlier beta ranking system.
Secondly and more importantly, the games I've won aren't registering at all! I've won 2 out of 3 or 4 games I've played during this new ranking system today and neither of those victorious achievements are anywhere to be seen. Any way to solve this problem?