Memorial is the only Madison High School in the top 1200 (1084), while Verona ranked 738th.
Washington Post:

The Washington Post Challenge Index measures a public high school’s effort to challenge its students. The formula is simple: Divide the number of Advanced Placement, International Baccalaureate or Cambridge tests a school gave by the number of seniors who graduated in June. Tests taken by all students, not just seniors, are counted. Magnet or charter schools with SAT combined verbal and math averages higher than 1300, or ACT average scores above 27, are not included, since they do not have enough average students who need a challenge.
The rating is not a measurement of the overall quality of the school but illuminates one factor that many educators consider important.

Milwaukee’s Rufus King is Ranked 259th. Marshfield High is ranked 348th. Whitefish Bay is ranked 514th, Shorewood 520th. New Berlin West 604th. Brookfield Central is 616th. Hartland Arrowhead is 706th. Nicolet is 723rd. Verona is 738th. Grafton 810th. Nathan Hale (West Allis) is 854th. Brookfield East is 865th. Greendale is 959th. Riverside University School (Milwaukee) is 959th. Madison Memorial is ranked 1084th. Salem’s Westosha Central is 1113rd. West Bend West is 1172nd while West Bend East is 1184th.
Jay Matthews:

The Challenge Index list of America’s best high schools, this year with a record 1,258 names, began as a tale of just two schools. They were Garfield High School, full of children of Hispanic immigrants in East Los Angeles, and Mamaroneck High School, a much smaller campus serving very affluent families in Westchester County, N.Y. I had written a book about Garfield, and the success of its teachers like Jaime Escalante in giving low-income students the encouragement and extra time they needed to master college-level Advanced Placement courses and tests.
I was finishing a book about Mamaroneck, and was stunned to find it was barring from AP many middle-class students who were much better prepared for those classes than the impoverished students who were welcomed into AP at Garfield. That turns out to be the rule in most U.S. schools — average students are considered not ready for, or not deserving of, AP, even though many studies show that they need the challenge and that success in AP can lead to success in college.
Nearly everyone I met in New York thought Mamaroneck was a terrific school because its parents were rich and its state scores high, even though its building was in bad shape and its policy of reserving AP only for students with top grades made no sense. Nearly everyone I met in Los Angeles thought Garfield was a terrible school because its parents were poor and its state scores low, even though it was doing much more to prepare average and below-average students for college than any other school I knew. It was like rating restaurants not by the quality of their food, but by the bank accounts of their customers.
I was covering Wall Street for The Washington Post at that time, and not liking the job much. My life was ruled by indexes¿the Dow Jones, the Standard & Poor’s. I decided to create my own index to measure something I thought was more important –which schools were giving their students the most value. This would help me show why Garfield, in a neighborhood full of auto-body shops and fast-food joints, was at least as good a school as Mamaroneck, in a town of mansions and country clubs.

Matthews participated in an online chat regarding the Challenge Index. A transcript is available here.
Related: MMSD High School Redesign Committee and West’s English 10 and Bruce King’s Report on West’s SLC (Small Learning Community) Project. Joanne Jacobs on Palo Alto High School’s non-participation.