I think Hoxie should be the clear cut #2 ranked team. Calvin Ochs (state runner-up) and Donovan Schamberger aren't ranked, but have state experience and probably should be. Combine that with sophomores like Brandon Salmans and Steven Yergy...Hoxie just has much more depth than Rossville and Eureka.
Eureka should probably not be ranked as high with their ranked 215 pounder not participating this season.
I think you are right in making the assumption that Hoxie will have more possible state placers on its team than Rossville. However, Hoxie has to wrestle in a more difficult regional than Rossville. This will leave a few of their wrestlers in the stands instead of on the mats in Gross Memorial.
In addition Rossville looks like they have a group of middleweights that could all tear through their brackets at state. This will give Rossville many bonus points with state finalist compared to the consolation placements Hoxie looks to get.
I would compare this team of Rossville wrestlers to Smith Center's team last year. Smith Center only had four state qualifiers but they still managed to take second because they had three state finalist and another wrestler come through the backdoor.
Maybe this Hoxie team will surprise me and can score a ton of backside bonus points like the 2004 Scott City team that won state.
The season is young, we will really see what these teams are made of come late January and February.