The ring could have been destroyed a lot easier.

[Raynor]

more powerful(?) than even Melian who protected a realm from Melkor the Mighty

Melian protected her realm against all Melkor's forces, Gandalf fell to a single balrog.

Doing those things with the Nazgul and the Chamber is probably like lifting a feather for him

Wrong on both accounts; in Many meetings, Gandalf states he was "hard put to it" when fighting the nazgul; and after destroying the chamber he can't light the way for the company, being "rather shaken".

even a lowly Noldorian elf can destroy a Balrog

Glorfindel and Ecthelion as lowly elves??