The true telltale sign to me that Alexa is just total and utter bollocks is the fact that ever since I stopped using Internet Explorer with my Alexa toolbar installed - my traffic rank for this site has dropped to absolutely crap. If one little person can tweak the results so much then what is the point of this crapola???
Anyways. Test begins today.

Alexa Rank - 25 July 2005
I am going to visit my site once a day with my IE and Alexa toolbar and we’ll see what happens to my rank…
July 25, 2005

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all true, one person with a browser can go up with something like 10000 places per day.