I think CMIB is not far off, but I think people miss the point by talking about how good a TEAM is, rather than how big a CLUB is. In that sense Rancid and Ceptic are probably about top 6 in the EPL.
Rangers may be a crap team at the moment, but they're a feckin massive club and they're rebuilding. They only lost the league by a bawhair to Ceptic and weren't expecting much after how poor they were last year under Le Guen.
For the same reason I would put Hearts, Hibs and Aberdeen in the Championship, and then it's a toss of a coin who's in League 1 (say DUFC, Well, Killie) and League 2 (Us, Falkirk, Midden maybe, plus clubs like Partick, Dundee, St Johnstone etc).
However it's distorted because: Rantic and Celgers are currently playing in a poorer league than they should be, and teams like us are playing in a higher standard than most League 2 teams as we get to meet the OF several times a season, instead of shitey wee clubs like Rochdale and Bury, which, let's face it, are about our size of club.