I have always believed it should have been a contest between Gandalf the White & Sauron. This would be logical in that the Nazgul had already been held off by Aragorn (& Gandalf in the Books), the Balrog had been destroyed by a weaker Gandalf, so an enhanced Gandalf needs an opponent worthy of being able to defeat him.
As far as the films are concerned, perhaps the Witch King wasn't as large or as menacing as he should have been, in comparison to the Balrog which I think was awesome. I would have ;iked to have seen a crackle of that luminous energy burst through the Witch King to give him more appeal. I never believed Gandalf was anxious of the Witch King, he was afraid of Gondor not being strong enough to hold off his army until Rohan arrived. The threat of the Witch King was the last thing he needed to contend with in this overwhelming situation - there was too much for him to do by himself without the aid of Rohan.
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