I don't think you it would be a very valid argument to say that Tolkien though Elrond was greater than Feanor either, one I won't even contend further.
And again, Tolkien's letter only contends that Elrond could be expected to supplant the Dark Lord if Galadriel could, which does not necessarily indicate power any more than the word Great does, for it takes strength to supplant, not just power. And as I mentioned earlier with Tulkas, strength most certainly does not equate with power.
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"He was sent by a mere prudent plan of the angelic Valar or governors; but Authority had taken up this plan and enlarged it, at the moment of its failure."
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