I've opined before on the myth of game balance, and my ideas run parallel to the author of this post over at RPG Gazette:
The author makes the case for interesting imbalances, and I agree wholeheartedly. Part of what makes OSR games interesting are the different strengths of the different classes. They have a role they excel at. They shouldn't be pigeonholed according to average damage output per level or whatever your metric of choice tells you should be the case.
In fact, I make this argument for Palladium's system all the time, especially Rifts. Yes, you can play alongside near-invincible creatures, but player agency should win out in the end. Use your brains. There is ALWAYS something for you to do, if you are creative enough. The GM should be providing opportunities for everyone to shine, also. If the GM is not, the GM isn't doing his or her job.