creating power rankings

[beaneaters]

Does anyone have information on how to go about creating your own power rankings? Have there been any how-to articles printed?
I'm someone with too much time on my hands, and I'm willing to go back over previous results to look at things like records after being swept, records after double digit losses, records in the first game of a road trip, etc, etc...
But I don't know what stats, or what formulas, should be used to create these rankings. The few rankings I see listed vary considerably, and I'm just looking to get started.
Any thoughts or ideas would be appreciated.

Bean

P.S. I'm interested in doing the same for other sports as well. I've been tracking a handful of results, but I'm not sure what to do with the damn things.

[OLGC_Slayer]

Usually you are looking at things like

road record
record vs plus 500 clubs
pythagorean W-L
run for runs against differential

[beaneaters]

I have an idea of some things to look for, but I'm not sure what to do with them, how to create the actual rankings. I thought there may have been an article or two written about it, but haven't found anything.