This is just for fun. So, feel free to comment about editing the order.
The order is mostly based on 1-on-1 duels between generals in the series and in some part referring to "Romance of Three Kingdoms" and this is most certainly not objective
1. Lü Bu
2. Zhang Fei, Ma Chao
3. Guan Yu, Pang De, Ji Ling(?)
4. Sun Ce, Taishi Ci, Huang Zhong, Gan Ning
5. Dian Wei, Xu Chu, Xu Huang, Zhou Tai
6. Liaoyuan Huo (Zhao Yun), Zhang Liao, Ling Cao
7. Wen Chou
Warriors whom are difficult to place on the list:
Xiahou Dun and Yuan, other generals of Cao Cao, other generals of Yuan Shao, other Handicapped Warriors, other generals of the Sun Clan, Ji Ling, Hua Xiong, other generals of Lü Bu.
* Lü Bu is Lü Bu.
* Zhang Fei has never proven himself to be better than Lü Bu and seems to only tie against Lü Bu when the latter was injured or fleeing (excluding the first encounter).
* Ma Chao is there because he ties against Zhang Fei in RoTK and because of Pang De's comment in Chapter 357.
* Originally, I had Guan Yu up there with Lü Bu and Zhang Fei, but Zhang Fei comparing Guan Yu to Pang De in Chapter 357 made him go down the rankings and make Pang De be one of the elites. Yes, Zhang Fei had a tie with Pang De in the chapter but Zhang Fei had an inferior weapon (a very thin short blade). [Also, Guan Yu had a tie match against Ji Ling while Zhang Fei beat him easily]
* I consider Dian Wei and Xu Chu to be equal because they think so too. Xu Chu tied against Xu Huang (Chapter 156). Xu Chu tied against Zhou Tai (Chapter 306).
* Sun Ce beat(?) Xu Huang (Chapter 305). Sun Ce is equal to Taishi Ci (Chapter 168-9?). Taishi Ci had a tie match against Huang Zhong and Sun Ce had somewhat of a tie match against Gan Ning (Chapter 286).
* Liaoyuan Huo ties against Zhang Liao all the time (but both characters are relatively dynamic so they will get stronger and stronger as time goes on). Huo lost against Dian Wei and Xu Chu, separately
* Zhang Liao beat Wen Chou.
This will be edited in the near future