G'day,

>>Balrogs and Istari are similar beings in terms of the celestial hierarchy, they are just around for different purposes and come from different Valar.<<

If you changed "come from" in the above statement to "serve" then it would be more accurate.

Maiar and Balrogs are both of the same race as the Valar, the Ainur, that were created from the thought of Iluvatar before the existence of the world, and took part, to a greater or lesser degree, in the great Music that created the world.

Regards,

Godrich de'Finchal
http://webpages.charter.net/plblack/trader.html