_that_ is definitely an issue with higher education. The qualities schools look for are generally difficult to accurately represent and quantify in standardized ways (e.g., GRE, GPA). I've been devoting some brain cycles to this. The best idea I've come up with so far is a "draft" style selection, where applicants come together for a week to demonstrate their ability in a given field and schools then make offers based on that. This might only be tractable in a smaller field though.