I briefly addressed this in my last blog but I did not find the answers I was given satisfactory. Therefore, I should like to discuss this again, because I can't make much sense of it.
First of all, what the heck makes someone a Jedi Master? I would assume that it was the over coming of some great challenge and a Jedi coming into his full powers and ability. And only then when he had mastered his skills could he train a padawan. (Keyword being 'mastered').
But I have been told that a Jedi does not need to be a Master before he can have an apprentice. This I just do not understand. How could a Jedi possibly have all the knowledge and strength etc. to train someone if he himself is not fully ready. Presumably, a Jedi has much to learn until he is granted the rank of master, so how could he possibly be qualified to teach someone?
Apparently, this is not the case and if a Jedi can have an apprentice before he becomes an official Master, then how does he become a Master? Is the successful training of an apprentice what gives him the rank of Jedi Master? Or do only Jedi that sit on the Council hold the rank of Jedi Master? If so, that seems useless. For why couldn't there be Jedi Masters that are not on the Council? Being on Jedi Council itself indicates that you are wiser and stronger etc, It is just a slightly higher designated rank than Jedi Master. Or so I had assumed.
Who decided all of this anyway?
This is how I think it should work.
A padawan is trained by a Jedi Master and learns from the Master how to hone his abilities and such until he is ready for the trials, if he passes the trials he becomes a Jedi Knight, where he does as the council instructs etc and continues to explore his abilities on his own, until he can accomplish some impossible task, and he reaches the prime of his power and wisdom, then he becomes a Master and takes on a padawan to teach him or her all his wisdom and etc.
I think this makes sense and is a wiser way to train padawan then by some inexperienced Jedi who was, not too long ago, a padawan himself.

p.s. In the case of Obiwan, I assumed that he was given the rank of Master for having defeated Darth Maul, even though or perhaps despite the fact that he had just been an apprentice, and thus had the right to train Anakin.