Rankings kind of work like this...
For the past month or so, coaches have been generous enough with their time to either e-mail me or send me ideas of where they think their kids will be weight wise. They have also sent me the names of kids in their areas that they believe are worthy of being ranked.
For the first ranking, most of it is based on last years state tournament. Placers and qualifiers are usually ranked over non-placers and non-qualifiers to begin with. Freshman will be ranked if they have outstanding credentials but usually I do not include them in the first poll regardless of what they have done. Because the rankings are done on-line they are usually updated weekly and coaches are great about sending me match results.
Ultimately, you have to have accomplished something of significance to be ranked and then you have to continue to do well against top opponenets. Strength of schedule and program strength also help out.
And yes, as a KU grad, the random basketball fan has a vote too.