Gentleman,
The valeu of this designation is not about the quality of CR camera testing or the resulting value of its reports, it is about selling cameras...
Many people use CR exclusively for product purchases. These are people who do not do deep research and want a quick a summary. It happens to be the same target audience that would buy a Kx - Entry level dSLR. P&S buyers as well. So the BEST BUY designation is a great endorsement and will result in camera sales, especially a camera that does not have a lot of brand recognition or store presence. Basically, someone sees the best buy and goes to Amazon and buys... And here is another thread that substantiates the effectiveness.
Digital cameras, point & shoot
I have spent the last 1.5 years in that forum rather than spend my time in this and other camera fora to spread the Pentax word (religous inference NOT intended). And it is working as the CR camera forum was once only the domain of C/n and now Pentax is elevated on the same plane by other forum members and you will see that in the above thread
As far as their camera testing, from what I can tell from past interactions with CR's forum moderator, their tests are exclusively JPEG and they prefer higher reduction of visible noise over detail retention or sharpness. This may be consistent with the consumer bias of the publication and also explains the relative poor ratings of the K10 and K20 in that publication. However, it also explains the home run that the Kx hit.
CR does not share alot of information on how they test, and when asked, are reluctant to share. I believe that their testing is unbiased. However, as you can see by the way they approach this product category, they are not photographers or enthusiasts. As a a result, their testing criteria reflects this.