True Saruman & Gandalf would be basically the same rank as Sauron. Saruman would possibly be capable of "mastering" the Ring... BUT, who's Will was the Ring made of?
The reason Sauron needed the Ring was to be made whole again. He had somewhat seperated his essence, dividing his power. In a sense the Ring had a Will of its own - that of its other self, the Dark Lord's.
No matter to whom the Ring ended up with... even with the powerful Wizard such as Saruman, I still think the Ring would have its way.
After all it was in Elrond's Counsel, it had been said that the ONLY way to destroy Sauron was to destroy the Ring (or made undone).
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