[Phervasaion]

I always think Gandalf was more powerful because, either way, Gandalf still managed to defeat the Balrog before he actually fell. So in my opinion Gandalf won the battle. Lore_master you are right about the Miar as i have recently read the Silmarilion book, the Balrogs only existed when they betrayed the Ainur (valar) and went to Morgoth. The Balrog being the corrupted form of the Miar.