Like I said, there are plenty of other considerations than just batting position ...but batting position is definitely a consideration. It's fair to point out that the 00s were an easy batting era and account for this when rating Ponting. Likewise batting #5 behind a strong batting line up is clearly easier than batting up the order and don't see why you shouldn't also account for that when rating Waugh. How much you weight each factor is up to you. Waugh did great things, played some great innings. Ponting did great things, played some great innings. I think Ponting was the more impactful player and a bigger reason for his side's success than Waugh was* which swings it for me.
*which isn't saying that Waugh was insignificant, before I get accused of saying that.
Sutcliffe by and large played in a pretty easy batting era. But he was pretty gun, aye. Better than both Ponting and Waugh would you say?