From the WoW Forums:

Combat Ratings conversions at level 70 (rounded to 1 decimal point):

Weapon Skill Rating: 3.9 rating grants 1 skill point

Defense Rating: 2.4 rating grants 1 defense skill.

Dodge Rating: 18.9 rating grants 1% dodge

Parry Rating: 31.5 rating grants 1% parry

Block Rating: 7.9 rating grants 1% block chance

Hit Rating: 15.8 rating grants 1% hit chance

Spell Hit Rating: 12.6 rating grants 1% spell hit chance

Critical Strike Rating: 22.1 rating grants 1% critical strike chance

Spell Critical Strike Rating: 22.1 rating grants 1% spell critical strike chance

Haste Rating: 15.8 rating grants 1% haste

Spell Haste Rating: 15.8 rating grants 1% spell haste

Resilience Rating: 39.4 rating grants 1% less chance of being struck by any type of critical strike, and 2% less damage taken from critical strikes

Which brings me to the question: Do you have a headache yet?