Whether "The Best of All" Graduate Business Schools then, or now, would be a pretty subjective judgement. I would not hesitate to say, however, that Harvard's Graduate Business Program is, and since its inception has been, one othe the very few "Top Rated" institutions of its nature . US News and World Report's '03-'04
Ranking has them in first place. Whatever its rank three and half decades ago, it was among the paragons to which all others were compared. Unles, of course, the criteria of judgement is party potential. They've never done well in that category.