In 1972 there were only 88 GMs with 33 representing the USSR. The current FIDE ratings list includes over 1000 grandmasters.^[14] According to one researcher, ratings inflated by about 100 points between 1985 and 2000. Nigel Short, a product of the era when computer chess technology was in its infancy, was rated the third best player in the world in 1989 with a rating of 2650; in the 21st century such a rating would only be good enough for a player to reach the top 50 or 60, with the third best player in the world usually rated around 2750. In September 2010 the top three players are all rated at or above 2800.^[15] Other minor factors come into play: there are more tournaments worldwide and cheaper air travel makes them more accessible to globe-trotting chess professionals, who include many players from the former Soviet Union and Eastern Europe whose movements are no longer restricted as they were before the 1990s. Additionally, players can make norms in tournaments that would have been previously considered too short for norms,^[16] making norms easier to get and allowing for more norm tournaments to be held.

The grandmaster title still retains some of its prestige because it represents a very high level of chess performance against other titled players.^{[citation needed]} A chess master is typically in the top 2 percent of all tournament players.^{[citation needed]} A grandmaster is typically in the top 0.02 percent at the time he or she earns the title.^{[citation needed]}

In order to restore the full prestige of the GM title, it is sometimes suggested^{[by whom?]} that it ought to be reserved for those who, at some time in their lives, become serious contenders for the World Championship, or who have actually held that title. December 2008 saw a record number of GMs (1,192) and IMs (2,916) causing some FIDE officials to suggest that FIDE should consider an "elite grandmaster" title.^[17] The proportion of titled players is actually growing smaller due to the rise in the number of all chess players worldwide who have FIDE ratings.^[17] In response, one member of the FIDE Titles & Ratings Committee observed that it is now more common for weaker players to get FIDE ratings, so the comparison of Grandmasters as a proportion of all rated players is not really helpful.^[18]

Nigel Short has suggested that the title should be abolished altogether since it no longer helps to distinguish between true championship contenders and much lower-rated players who have no serious chance of challenging for the world title.^{[citation needed]}

I like Short's suggestion myself.... 

The more titles you have the less meaningful they become, thats the whole point. If GM was reserved for only those who have a realistic chance/shot at the world championship there would be very few GMs.... not even all those over 2700 today would be GM by this standard. If you did include all over 2700 you would still have fewer than 50 GMs .