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I think there are two different ranks here. For progressing your career, I would say the importance would be as follows:
F1
IndyCar
GP2
Indy Lights
WSbR 3.5
GP3
British F3
European F3
F2
Auto GP
Obviously, IndyCar and Lights are important in America, but are totally irrelevant nowadays in trying to get to F1, which all the others in the list are ultimately aimed at.
Now, if you want to talk about prestige and quality of drivers at this current time, then the following:
F1
IndyCar
GP2
Superleague
WSbR 3.5
British F3
European F3
GP3
Auto GP
F2
That's my opinion, though I must say comparing American and European open wheel can be like comparing apples and oranges. In some areas it's hard to judge as they can be very different.
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