Well yes it does keep small states relevent in decision making
...but look at it this way: If a candidate wins by 80% in CA than s/he gets 54 (I think thats the right number) electoral points. However if that candidate only won CA by 1% they still get 54 pionts even though fewer people voted for him/her.
Actually the electoral college makes the political minorities in states rather worthless. I mean if you are a republican and live in CA your vote basically counts for nothing as the democrats almost always win that state.
Or if a state is won by a republican all the democrats' votes in that state really count for nothing. Now can anybody say that that is fair?
Viva La Resistance!