Did Sauron increase his power by making the Ring? It was a ploy to ensnare the other races and it didn't quite work. So Sauron with Ring was no more powerful than he would have been if he had never made the Ring. A powerful Maia. And like Osse says, Melkor - a being far more powerful than Sauron - was given a very decent fight by Fingolfin, an Elf.
So why couldn't Sauron, and his physical body, be subject to a mauling by Gil-Galad and Elendil, a powerful Elf and a powerful Man, even with the Ring of Power? It doesn't seem too far-fetched.
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Los Ingobernables de Harlond
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