Valve has a continuous rating system internally which is used for matchmaking. There aren't really any normal/high/very high break points -- that's just the extent of the information Valve will provide.
DotaBuff is aiming to make their own rating system, independent of Valve's. It's likely that both systems will be similar and have similar ratings, though... Most rating systems are somewhat similar to the old and venerable Elo rating system. Typically they'll be based on who you beat and who you lose to, not stats like raw KDA or XPM or GPM.
The advantage would be that you could see whether you're improving or not even when you're not crossing the normal/high or high/very high threshhold. There are two big downsides to a public rating system, though.
1) People will use it to flame. Pretty self-explanatory.
2) They can give perverse incentives. For instance, if deaths are used as part of the rating calculations, then there's an incentive to not die, even if risking dying is the right thing to do to win the game. So support venge decides to run away rather than swap places with a carry that got trapped, for example.
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So what is this new ranking system that they are aiming to make public? Hmm?? can any1 tell me?
Is it just which bracket you are in, like Normal - High and Very High? if thats the case then u can see it neways if u want?
Or is it like KDA ratio? You can see that anyways for certain games and heroes, not overall but u can still get a feel of where a certain player is if u just look at 10-15 games quickly. So what is it?