http://www.time.com/time/photogallery/0,29307,1916544,00.html
Their own list as published and they picked 11.
1. Jimi Hendrix
2. Slash
3. B.B. King
4. Keith Richards
5. Eric Clapton
6. Jimmy Page
7. Chuck Berry
8. Les Paul
9. Yngwie Malmsteen
10. Prince
11. Johnny Ramone.

What is the "Tulsa sound"?
1. He wrote some great music, introduced alot of new sounds and effects to the world, but as a guitarist he's horribly overrated.
2. Generic pentatonic wanker.
3. Legendary music, overrated player.
4. LOL?
5. Generic pentatonic wanker.
6. Generic pentatonic wanker.
7. Overrated as a player.
8. Now this guy deserves to be on the list. Even though he wasn't the greatest player compared to some of the guys who came after him, in his prime he was incredible and even if he wasn't, he still deserves recognition for his incredible achievements and innovations in recording, effects and the guitar as an instrument.
9. Great player, terrible songwriter.
10. What?
11. Are they serious?
Overall, a terrible list. I don't believe in ranking musicians, but to call some of these guys "great guitarists" is laughable. To be considered a good guitarist, you need the whole package. You can have great technique but if you can't improvise for shit or write good music (that's subjective though), you aren't a good guitarist. The reverse is true. None of these guys (except Les Paul, R.I.P) have the whole package.
I think it's impossible to rank guitarists, and unfair to try because there's so many great players out there that it's impossible to include them all, but some of these choices aren't even GOOD guitarists by any stretch of the imagination, just mediocre players elevated to superstar status by their overrated, generic classic rock groups.