Without going into the technical stuff, I just want to emphasize that from the things you mentioned only "subtitle rating" and user rank "Sub Translator" (and to some extend also "Trusted") would correlate directly to the quality of subtitles.
Subtitle rating:
this should be a value for the subtitle's quality, but keep in mind that users sometimes just might give a high rating to express their appreciation, instead of saying something about the quality of the subs.
User ranks:
We have a few different user ranks. The bronze/silver/gold/platinum ranks ONLY refer to the number of uploads and have nothing to do with quality. Maybe even on the contrary - think about it, how well can subs be made/checked/corrected if the number of uploads if high? Another user maybe uploads only one per month, but it's a good one...
The only ranks that matter are "trusted" and "sub translator". Lately these are given only to users with more or less constant high quality uploads. But, in the past, "Trusted" was given more easily, so also this should not be taken too heavy. "Sub Translator" is relatively new, and should(!) only be given to users with high quality uploads.
Number of downloads:
It says nothing, or opposite to what you expect. The highest number of downloads are often just for the oldest subtitle. On top of that it's a snowball effect, because many users tend to choose the subs which are downloaded most. The newer subtitles will have much less downloads, but the best chance to be corrected.
See also
viewtopic.php?f=1&t=14224 (About Trusted and Sub Translator ranks)
Something similar about the meaning of number of downoads, user ranks etc. in relation to subtitle quality was discussed earlier somewhere else on this forum, but I cannot find it anymore... Try the search function