I'm not familiar with the teams fielded by these folks. Elo was a mathatician who created a rating system for chess, but it transfers to any game with three possible outcomes. The soccer ratings it produces seem pretty accurate to me.
There are some problems of course. Chess players do play more games than soccer teams. In the chess world one gets a "provisional" rating until he has played 16 rated games. National Soccer teams have players coming and going all the time, and 16 games which is a beginning in chess is sometimes more than a lifetime in international soccer.
ML/NJ
" I'm not familiar with the teams fielded by these folks"
To be fair, I'm not sure I even know where any of them are ;)
Basically though, any rankings system will always be debateable, obviously. The one you posted was interesting, I'm sitting here now with my girlfriend picking out bits that we agree and disgree with. Croatia and Japan not really gripping us at the moment!