The OP starter ask 'Shogun ranked #1......WTF for?' Well here we go........
Mauricio 'Shogun' Rua is currently ranked #1 by almost every MMA site, matter of fact, I can't find one were he isn't #1. He has a record of 16-2-0, that's 13(T)KOs, 1 Sub, and 2 Decisions with 1 lose due to (T)KO and 1 to Sub. He won the 2005 Middleweight Grand Prix. He has wins over Ricardo Arona, Antonio Rogerio Nogueira, Quinton Jackson, Alistair Overeem, Kevin Randleman and Kazuhiro Nakamura.
The only reason Rua doesn't have a belt like Rampage is because he has never been given a title shot in his entire career. Never got a shot in Pride because Wanderlei Silva was champion and the two will not fight each other. By the time Silva lost the belt, it was already over for Pride. When Shogun gets a shot in the UFC, expect him to win no matter who he is fighting.