Sure, she would get crushed by a FS in toe-to-toe combat (Aginor [or was it Balthamel]) did a pretty horrible number on her in EotW.

But like I said, her will to win means she will use any advantage, and one she has had thrice so far is that people tend to underestimate her (Merean, Be'lal, Lanfear). One of them died because of her skill (knowledge of Balefire - would love to know where she got this - probably Adeleas and Vandene), the other two died because they made the foolish assumption that fights between channellers only involve the power. There are few who think otherwise (Rand being the notable exception, as he trained with a blade), so she has an unseen edge in many fights.