For pretty much as long as Halo Reach has been out I have been racing through the ranks.  I'm not the fastes by any means but I hit Lt. Colonel the other night and am not driving to hit the level cap before they extend it.  In the mean time my stack of backloged games is growing, but that's cool even though I'm S-ranked in Reach and not earning any achievements I'm having fun. 
 
 http://i202.photobucket.com/albums/aa238/sme55/Halo/ltc05.jpg

I do it with this fellow named Dan.  Check i out at www.gamepadsunplugged.com