The Legends of War feature officially began on December 1st, 2007. Points are calculated based on the following system, posted by Hunter of EliteWorx, the chief game administrator and owner:

Points

popkill - 1.25 points for every 1,000 people killed
unitkill - .040 points for every unit killed (platoons are = 1/2 a unit)
moneykill - 12 points for every $1 Million destroyed (about equivalent to destroying the number of weapons that money could have bought)
top25 - 3,000 points for every Top 25 finish
intelgather - 40 points for every intel gather
agentkill - .18 point for every enemy agent killed on attacks (will eventually include defesive kills)
missilehit - 0.6 point for every missile striking a target
buildingkill - .5 point for every building destroyed
nukelaunch - 1000 points for every nuke launched (remember nukes get points for all the collateral damage also)
nuketake - 1800 points for every nuke taken
landkill - 2.2 point for every km destroyed
countrykill - 5,000 points for every enemy territory devastated
landtake - 1.8 points for every km taken in attacks
netlandtake - 2.2 points for every km you keep (gained net of losses)
endgnp - 200 points for every $1 million in GNP at the conclusion of a round (not intended to be a significant part of your point total)

Ranks

Private: 0 Points
Private First Class: 15,000 Points
Corporal: 30,000 Points
Sergeant: 70,000 Points
Staff Sergeant: 150,000 Points
2nd Lieutenant: 250,000 Points
1st Lieutenant: 600,000 Points
Captain: 1,000,000 Points
Major: 1,500,000
Lieutenant Colonel: 2,100,000
Colonel: 2,700,000
Brigadier General: 3,400,000
Major General: ?
Lieutenant General: ?
General: ?