Fine, ranking past the T25 is almost completely irrelevant. You touched on it when you said it's all about debt and location. If you aren't going to a school with a portable name, your primary concerns should be debt, location, and placement statistics. There are plenty of schools within the same market whose ranking doesn't correlate with job prospects - take FSU, a T2, which outperforms UF, a T1.
My point is that too many people look at rankings and think they should choose a school outside of their desired market just because it's ranked higher. That's a dangerous proposition when they realize that most schools don't have a portable name, hence the T25 cutoff (and that's generous).