I must reply on this thread. I was recently speaking with a faculty of the university to our northwest. He said they have the highest number of Texas valedictorians accepted each year. They also have the largest number of valedictorians that fail out of school each year. The ones that do fail out are statistically more likely to come from the smaller schools in the more socioeconomically underprivileged schools in the state.
I came from a school that had less than 100 in my graduating class. Heck, only about 10% of my class even attended college. Why should all of those students have been guaranteed a spot at a "flagship" type of school? That kills all competition and brings us back to mediocrity. Believe me, the majority of the top 10% of my class would never have even been able to consider doing well at A&M or Texas, much less TT, UTA or UTSA. They needed to be at places like junior colleges or local small colleges (SHSU, SFA, TAMUK, TAMCC, etc...)
It is time that this rule is discarded. It won't, however, because of the large rural and South Texas component of our legislature who realize that their constituency would be hit hard with disbanding this. Oh, and before I get blasted for my thoughts, I come from both of those schools (rural and South Texas).