In short, after ranking 38th in a slightly different version of this metric in 2008 (going back to 1984 instead of 1962), it looks like we're out of the top 50. Can't say that it's particularly surprising, given that our strongest sustained period of basketball happened from the early 90's through 2005 (and that two of our four ACC Tournament championships and only Final Four appearance happened 51 and 52 seasons ago), but still disheartening for us fans to know our place in the grand scheme of things.
By my math, using this metric Wake has approximately 140 points (unsure on the exact number of NCAA violation negative points we have - I remember Odom getting in trouble for both Mahktar N'diaye and Ricky Peral in the 90's, and there was a censure in the 80's, but specifics are hard to come by). Our strongest season was 1994-95 with 22 points, narrowly edging the 21 points produced the following season (we would have had a 29 point season in 1961-62 and a 16 point season the previous year, which had they counted would've put us at 48 or so). To compare this, here are some other programs relevant to our interests in the countdown thus far:
50) Boston College: 159 points
44) Davidson: 190 points
43) NC State: 194 points
34) Xavier: 234 points
27) Maryland: 245 points
The countdown has only reached number 21, so Carolina and Duke (which headed the list in 2008) obviously haven't seen their numbers called as of yet. Still, it's nice to know that historically we're (at best) the sixth-best ACC basketball school and (at best) the fifth-best North Carolina basketball school.
So now if you'll excuse me, I'm going to go light myself on fire and dive out a window.