An Analysis of Various Election Methods
An anonymous reader writes "David Cobb talked about Instant Runoff Voting (IRV) as the best choice in electoral methods in his interview here, but is it really? The folks over at electionmethods.org seem to think it isn't. They favor Condorcet voting, which is another ranking style method using simulated one on one elections. Here is an evaluation of various methods, including IRV and Condorcet."
The only problem with this method is people - when the majority are idiots, you get what the idiots want.
No voting methodologies will protect you from idiots.