How will ranked play work in Halo 2 on XBL?

Matchmade, or ranked games, do not allow you to affect game settings, and a limited number of options are available. You cannot choose weapons. There are three types of matchmade games: FFA, Small Team, and Large Team. (Editor's Note: I am guessing that "small team" takes advantage of Halo 2's new ability to have more than 2 teams in a game, whereas "large team" is the traditional red vs blue match.) Each type of game will have separate rankings. The better your play, the more your ranking will rise, and the system will continue to match you with players of similar rankings and, apparently, connection speeds. Kills against higher-ranked players are worth more. You'll be able to check stats at Bungie.net/ After choosing a gametype, the system will automatically select a game from a random selection of similarly ranked players. The playlists-- the actual options in each game-- will be controlled and updated by Bungie. Bungie will also run periodic mini-tournaments with specific settings. There's no mention of the consequences of dropping from a ranked game.
game: 
platform: 
topic: