ELO and MH actually share the same basic methodology, as both are
pairwise designs, meaning they compare the quantitative value of two entities, which infers preference on which is better. ELO actually takes things further, as the ELO score is a predictive rating of how likely one chess player/sports team is to beat their opponent.
Creating an ELO rating for coasters though would be a neat idea, as that would not only give a basis for ranking #1, #2, etc., but also give a sense of how strongly preferred each roller coaster is.