Here's my thought on this whole issue. There are lots of players out there that have great skill sets and warts (Andrei Kostitsyn, Robbie Schremp). There are lots of players out there that have moderate skill sets but great character that makes you believe they will make it (Eric Nystrom). To me, the system looks only at where a player's upside is, not where he is likely to fit into the scheme of things, if he fits at all. The Liklihood score (the letter) is also a double edged score, one that requires too many balancing factors to be truely fair. It does not look at the player's potential to adapt to the game should he not attain his potential. The system also does not take into consideration the potential for over-achievement. These things need to be considered. Here's some examples using players pumped up on this site.
Andrei Kostitsyn (9.0C) - A player deemed one of the great prospects in the game today by a few, and thought of as a wasted pick by others. He has great puck skills and is a smooth fast skater. He's got decent size, but is not the type of guy to engage physically. He definitely likes to play the game his way and that is forward at all times. In short he has the skills to be a top line player. More than that? I don't know. I didn't see anything at the WJC that indicated greatness in his future. He's got the skills to be a top line player, but elite? I didn't see it (albeit it was one game). I think the rating might be a little bit high in my opinion and that an 8.0 is more realistic.
On his likelihood score I see some road blocks. He has to learn to play on his half of the ice. His heath is a major concern as well. He must learn to play the North American game and commit to that change. All of these things are very difficult to do for a young player who has had everything handed to him his whole life. Especially the assimilation to the new culture. Also I don't see him as a player who can change his game and become a two way player. It depends on how he is handled. Montreal will be desperate to have this kid step in and be an offensive dynamo for them which may back fire. I think he'll get a chance and that 20 game to one season stretch will define him in short order. Because of his top end skills I think that it is very unlikely that he is going to drop anything below the second line and hang around the NHL. He will have to play on that line or he will be playing in another league, so he gets a B rating from me (with the cavet to follow down the page).
Robbie Schremp (8.5B) - This places his "skill level" at a first line forward to an elite level player, with the likelihood of him attaining that being a B, beaning he should attain that level or drop down to at worst a first line forward or top end second line forward. In essence this is say that Robbie Schremp WILL be an NHL player and WILL be a top line player. There is no doubt on this. The 8.5 puts his talent into the stratosphere, menaing very few weaknesses in his game. The B rating means that he will adjust and will be an NHL player close to the level projected.
Now looking at Schremps 8.5 rating, this seems a huge exageration. Schremp is lacking in the skating department, it has been pointed out at every turn, so that would knock him down to at absolute best an 8.0. As well Schremp is not recognized as a solid two way player by any stretch of the imagination. The days of having one way players in the NHL are long gone. This will knock his potential down further IMO. I think he gets knocked down to a 7.0 because of his skating and because he is not a strong two way player. Yes, there are all sorts of players that were not strong skaters that went on to great careers (Yzerman and Sakic for instance), but they were also top end two way players. Schremp is more of a Marc Savard type player, which pegs him as a second line player.
Looking at the likelihood score of a B, I see a little bit of a stretch. Physical attributes come into play here and we know that Schremp's skating and two way play is a question mark. That knocks his rating down. Character and attitude come into play as well, and that has been a problem during his junior career whether people want to admit it or not (it is documented and is why he was passed so often in the draft). That is going to affect his grade. Then the state of the game and the team for which he was drafted comes into play. The game is no played with a premium on speed and being able to contribute at both ends of the ice, especially the teams which lack bonifide scoring talent. If you are not a sure thing to score, you better be able to keep them out of the net in your end. Now while the Oilers would love to have a bonifide scorer on the team, and may accept a short coming to get that, is the player capable of filling that role? I don't see them doing this for Schremp, especially when the vastly more talented Hemsky got backburnered this past season. Schremp will have to prove he can play at the NHL speed and play two way hockey based on the Oilers actions. So while Schremp will have to play on the top two lines to be successful I'm not sure he has the skating ability or character to get him there. I think a C or C+ is a fair rating based on the challenges that the player faces. He must change his game dramatically (improved skating and developing defensive awareness) to make the NHL. To me, Schremp is a 7.0C+.
Eric Nystrom (7.0B) - Looking at Nystrom I think this grade is very generous. I think that he is at best suited to be a third line player. He has great skating ability and had great smarts. He does not display his ability with puck while playing but does so in practice. The skills are there but he choses to play the game that his coaches as him to. To me, because of the way he plays the game, he's more of a 5.5 or 6 to where he fits in skill wise.
On to his likelihood score I think it could be higher. Nystrom has decent abilities, but he is so focused on execution of his role that he does not use his inate skill. This is something that endears him to scouts. They see a player that is so focused and so coachable that they say he's a sure fire player. He's already got the skating ability and defensive awareness aspects that he is considered a sure NHL player in some capacity. He's a guy that already shows the comittment and leadership to make it to the NHL and is a really great bet. To me Nystrom is a lock to be an NHL player, but nothing more than a 3rd or 4th liner. To me that makes him a 5.5A.
Now something that I think should be added to the player rating is "Bust Factor". There are certain players that you look at and you just know they don't get it. They may have all the talent in the world and score all the points in junior, but you know they do not get what it means to be a professional. These are the guys that you know will never adapt or will never learn that the game is played at both ends of the ice. They either play in a given position or they are peddling bugers at McDonalds. These guys are the ones that you usually see toiling in the minors or heading over to Europe after the expiration of their first contract. Conversely there are players that you look at and they just will themselves to excel at every level. You know they will be in the NHL in some capacity even if they have to remake themselves along way and become a player they were not in junior. These types of players hardly ever bust. To me, the Bust Factor should be handed applied as High, Moderate or Low.
For our examples their scores work out as such.
Andrei Kostitsyn - 8.0C, Bust Factor: High
Robbie Schremp - 7.0C+, Bust Factor: Moderate
Eric Nystrom - 5.5A, Bust Factor: Low
As you can see there are some players there with different skill sets but very different chances of making it to the NHL. Kostitsyn has the skills to be a top end player but nothing after that. He plays top line or he doesn't hav an NHL job. Robbie Schremp has moderate skills and may be a little more flexible. He has some skill challenges to work on, but is a safer pick. Eric Nystrom is a talented enough player, but displays so many intangibles that it is hard to imagine him not willing his way into a jersey someplace in some capacity. He will not a be a star player, but he will play. At that point it all boils down to what you are looking for in your team. A safe pick like Nystrom or a potenial home run/strike out like Kostitsyn.
Thatls the way I see the rating game anyways. Flame away.