(Again this "Greatest of the Eldar".. While Lúthien is said to be the greatest, it's also said that no other like Fëanor has been born(don't know how it exactly went, haven't read the English version), hard to say who's the best then. But let's not talk about it, I doubt that Lúthien would have done much better)
I think that there were many that could have used the Ring against Sauron and even defeated him, but not truly, save maybe some greater maia(if there were any) and/or the Valar. Though there would've been no use of the Ring for the Powers, or probably to any greater maia. They were already greater than Sauron, and therefore the Ring wouldn't have raised their Power, I think.. Any other would have simply become the next Dark(or White?) Lord or Lady, and the Ring would've enslaved them. Then Sauron simply knocks on the door, says "GROAH" and the Lord gives the Ring to Sauron - Sauron rules again.
So I think that only the Powers could have resisted the Ring and Sauron.
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"Out of doubt, out of dark to the day's rising I came singing in the sun, sword unsheathing. To hope's end I rode and to heart's breaking: Now for wrath, now for ruin and a red nightfall!"
~Eomer
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