Check out Sailwave, there you can have BCE and BCR Columns added to the results. A competitors BCR figure is the rating they actually raced to. For instance if a F16 wins a race they raced to their rating (TEXEL 102). However, the second boat was a F18 and depending how far they were behind the F16 their BCR could be 103 (TEXEL F18 rating is 100), third was another F16 and again depending on the time difference their BCR could be 104. So the BCR gives an automatic "rating" based on the BCE which is the adjusted time they lost by, or to put it another way the amount of time they needed to be quicker to win the race.
Therefore, you could possibly use this information over time to come up with a persons average BCR rating (Their actual performance rating. A F16 using TEXEL is 102 however, my actual rating based on last years results could be 105!).
I guess you could use this information to come up with National rankings like they do in NZ or in our case if all F16 were scored using Sailwave you could theoretically produce a fairly accurate World Rankings list based on "Club Racing Results"