...clearly outguns an Elf. Particularly since we are told (in UT) that
the Istari were mighty among the Maiar, peers of Sauron. But in being
dressed in human form the Istari seem to have limited themselves in a number of
ways, setting aside or fogging up a signifigant portion of their natural
abilities.
But that is not to say that's all there is to it.
Individuals haave unique insights and abilities. No Maiar made, or could
have made, the Silmarils. Galadriel, who is linked with Feanor as 'the
two greatest of the Eldar,' could have had some unique ability, inbsight, or
invention of her own. And her Ring is impressive; she IS slowing down
time in her whole kingdom, you know. Who knows how that rates, powerwise,
with something like the Girdle of Melian?
My guess is that if asked this question Galadriel would smile and
say 'you do not understand what power is.' Gandalf, asked this question,
would say 'Don't be a
fool!'
