I just came across this article on npr.org that gives 10 reasons why using the BMI formula is wrong. I've always known that those who are really athletic end up with skewed BMIs, but it gives compelling reasons why we need to abandon the system completely and look at other things like waist size. I don't think I count as really athletic, but I've often wondered if at 5'3" and between 135-140 lbs if I'm really borderline overweight. Could I lose a few more pounds? Probably. Am I truly overweight? I don't know. Perspective tells me no, since so many people around me are much larger than I am. I want to say that most Americans are overweight, but now that we're questioning the BMI that assumption is invalid.
Can we truly measure ourselves against one another by some mathematical formula? I don't think so. In the end I think we should focus on being in shape and healthy, not trying to hit some magical number based on height and weight.