[Raynor]

Originally Posted by obloquy

This suggests a much tighter--and indeed reliant--relationship between Sauron and his Ring than he would have allowed between himself and a more or less expendable servant, unless that servant was invincible to the same degree that the Ring was.

We have reasons to believe they are, to a good degree:

Originally Posted by The ring goes south

- You cannot destroy Ringwraiths like that, said Gandalf. The power of their master is in them, and they stand or fall by him.

Also, Sauron created The One Ring at a time when he was still evidently discarnate, which makes the situation wholly different.

Sauron discarnate in 1600 S.A.? Why?

A more plausible scenario, I believe, would be an allocation of more ring-power (was this an active well which Sauron could draw upon, reallocate, and augment?) to the Witch-King's ring, provided Sauron was willing to let the Witch-King wear it.

An interesting thought. Then again, Gandalf mentions that Sauron keeps the nine rings, so this wouldn't be a problem (as you mentioned in a later post, I noticed).

the lesser Maiar (the Balrogs are described as such)

Where are they described as such?

Glorfindel in particular, though not the greatest of the Eldar, is said to be on par with the Maiar.

True, but his case is highly particular, since he is a reincarnated elf who was allowed to return to M.E.

Certainly this holds true also for Cirdan, Luthien, Galadriel, Ecthelion, Gil-galad, Elrond, Feanor, Fingolfin, Thingol, and others.

Why?

it stands to reason that the power received from the nine rings is primarily that irrational fear that all the Ulairi share

Hm, I hold my doubts towards this idea. The nine rigns were forged by the elves. Other than subservience to Sauron, I know of no other trait that would allow the ring to infuse the bearer with such power. Therefore, this power must come from Sauron also.

Why didn't the other Nazgul receive it as well? All the Nazgul received this weapon of supernatural fear, so if the Witch-King acquired his other powers from Sauron, why didn't the others? It makes more sense, lacking any textual indication that Sauron singled out the Witch-King for an extra helping of bad, that the ways in which the Witch-King is superior to the other eight are his own personal skillset, and that the ways in which he is like the other eight (wraith, "weaponized" fear, aversion to water) are what was received from Sauron and the nine rings.

This isn't the only explanation possible. I believe that the need to have a hierarchy would require simple leadership skills on his behalf. Further from that, Sauron can give him whatever he thought was necessary for his role.