They've begun assessing/ranking colleges based on a number of factors:
After doing some research IntelliGrad has arrived at what we believe to be the first 2.0 Campus Rankings. We base these results on numerous factors including: innovation of alumni, innovative use of technology in teaching, school size, school location, entrepreneurship/web-related course offerings, “wiredness,” endowment and number of students, student voice/engagement.
It's an interesting list, and well worth a look. The list is the first of its kind (that I'm aware of) and I'm sure we'll see a more in-depth ranking soon--perhaps from the likes of The Princeton Review.