I knew so many people who went to college with me in LA, then went to law school in Wisconsin, Minnesota, or Washington because they simply chose the school with the highest USNWR rank. They quickly found out upon returning to LA that local students had a distinct advantage in terms of connections and employment, and that nobody really cares that you went to the #42 school instead of the #53 school. At that level, alumni connections and location are far, far more important.
Leaving a major legal market to gain a few measly points in school rank is a huge mistake and, as you mentioned, shows a complete misunderstanding of how legal employers interpret school rankings. Connections are paramount to everything
, even school ranking. One (1) good connection can outweigh school rank, class rank, law review, moot court, student leadership groups, etc. So my advice to any 0L's or current law students reading this, if you're at the #60 or 70-something law school (whatever that is) located in the market where you'd like to practice and you're obsessing over transferring to another school to gain a few points in class rank then you're missing the point. Save yourself a lot of time, money and energy and focus your obsession on the number of solid connections you can make in your legal market. You'll thank me later.