Does that most recognized list update still to this day ?
Yeah those BPIP lists are updated constantly.
Anyone else have any suggestions for how to set up the vote ?
As @SFR10 said, you have to limit the voters in some way because if you go with a simple poll, someone will try to abuse it with bunch of brand new accounts. If there is any chance that something can be abused around here, it will be.
My suggestion is to make people vote by simply writing the name of the contestant they think it was the best, limit it to at least Full Member & above and eventually certain amount of merit earned.