[quote name='ufskenney']I don't disagree, but the people that are much higher ranks have more access to perks, weapons, etc. It also means they, most likely, have played a substantial amount (even with 2x experience) more than someone just jumping into the game for the first time.[/QUOTE]
True.
IMO a player has everything that he/she need to seriously compete once your level hits the high 20s, which doesn't take that long. It's not like WoW where a level 30 character doesn't have a chance in hell against a level 70 character. The beauty of the prestige system is that the serious players are constantly resetting their characters and playing at levels lower than casual players.
Plus, a player's skill level eventually plateaus. Someone who has played the game for 100 hours isn't 10 times better than someone who has played 10 hours. They're maybe 1.5-2 times as good. I had never seriously played a console FPS game before MW2, and while I did get completely owned for the first couple of weeks while I learned the ropes, I eventually finished playing it with a 1.6 K/D ratio. I wasn't amazing, but I was doing well enough to hold my own.