Does the OWGR need fixing?

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With his win at the Honda Classic, Rory McIlroy became the latest golfer to ascend to the top of the Official World Golf Ranking, joining Luke Donald, Martin Kaymer and Lee Westwood who have all reached No. 1 in the last 18 months.

Does the OWGR system, which takes into account a player's performance over the past two years, need to be tweaked to better identify the world's best players? If so, how?