Nadal wins at Roland Garros again, now No. 1

I really don't get how the tennis rankings work. Nor do I understand how little the four majors are factored in. From what I can gather, the ranking is based on the last calendar year. And somehow, based on the last calendar year, Rafael Nadal is the No. 1 player in the world after burying Robin Soderling in straight sets this morning in the French Open final.

In the last year, Roger Federer has won Wimbledon, lost the U.S. Open final, won the Australian Open and lost in the quarters this past week at Roland Garros (this stretch coming on the heels of winning at Roland Garros, but I guess that wasn't in the last calendar year).

In the last year, Nadal missed Wimbledon, lost in the semis at the U.S. Open, lost in the quarters at the Aussie and just now won at Roland Garros (this stretch coming on the heels of losing in the fourth round at Roland Garros last year, but I guess that wasn't in the last calendar year).

Does this make sense to anyone?

I grant that in 2010, Nadal has now won four titles to Federer's one and in the last calendar year Nadal has a 4-3 edge but Federer has a 2-1 edge in majors. I really don't get how this system works.

If you ask me, it should be Federer 1 and Nadal 2 going into Wimbledon with that winner of that tournament coming out as the No. 1 player in the world (assuming one of them wins it, which I believe to be pretty likely). But what do I know?