Servant or Master?

[Lord Halsar]

In several threads, I have noticed, when people list the "main-players" in Arda, they will always place Melkor(Morgoth) at the top with Sauron usually below him. It may just be my thoughts of Melkor as a "dissatisfying" villain whereas Sauron is my "satisfying" villain, but, I have to ask, does anyone else think that this view of power should be reversed? Melkor always seemed to me as a poor villain. He was overly arrogant. He squandered away his strength on his servants, almost all of whom wound up dead. He had the Silmaril taken right from under his nose. In fact, some of the things I've read about him in the Sil make him sound, dare I say it, pathetic.
Sauron however, he seems like so much better a villain to me. And with Morgoth having decreased so much in strength even by the time of his second capture, who knows? Maybe he was weaker than Sauron after two more ages. I know I'm making some bold statements here, but it's just been what I've come to see in Morgoth from what I've read. Perhaps it's just my opinion, but, hey, that's the human-mind for you.