The data is incredible and the story from Bill Henderson is absolutely true. I hope more people look at these rankings and really consider whether its always worth it to attend the "higher ranked school" -- I think as Bill points out, the higher rank does not often materially improve your BIGLAW chances, outside of the T14. I think what was telling was that even for the schools ranked say 15-30, there is such a dramatic difference from the T14, especially when you figure in the clerkship category.
Realize that the latest 2007 chart that NLJ also just published has slightly better prospects for some schools, but, even there, the best schools do better than they did in Henderson's rankings. And I believe there is at least a chance that with the economy doing so poorly that we could see a more 2005-ish employment picture next year.