Does it matter if it is number one? Few people would deny that it is a good school. When you get that high in the rankings...you aren't losing much quality from school to school. You pick based on what suits you best. And not going to a top 25 school doesn't mean you will be a poor doctor by any means.
Unfortunately, according to your own Theory of Med School Quality (where the med school is directly proportional to quality of its basketball program and inversely proportional to the quality of its football program), Baylor COM's non-existent division I basketball team doesn't hold a candle to the likes of Duke. Then again, I guess that means UCSF is equally screwed as well.
Very true, that is why I said it definitely matters what school you go to. But, the fact of the matter is no matter what school you go to, if you excel at the school, garner connections who will write you letters, and rock the USMLE then you can write your own ticket. For people who do fairly average during medical school, going to a prestigious school can make all the difference.