Were Gandalf and the balrog equals?

[akhtene]

Wasn't Gandalf a greater spirit than the balrog?
Anyway, if Gandalf was the greater, shouldn't he have been able to defeat the balrog without dying?

Basically, Gandalf and the Balrog were equal in origin, that is they were both Maiar, immortal spirits, inferior only to the Valar. But Gandalf had restrictions imposed on him (but not just given a small amount of power) while the Balrog could use all he posessed.

Another thing is that the Balrogs were the firery spirits, and Gandalf as one of the Istari was sent to Middle-Earth in the shape (the body) of a mortal old man. And it's this mortal body that couldn't survive the fire, the fall, the chase and fight; it's the outer shell that failed and died. But Gandalf the Maia didn't die, but defeated the Balrog thus proving that he was stronger.