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B HodesJeff's discussion of the benefits of having played for New York dynastys touches on something important. Because baseball is to a large degree an individual game played by teams that yields a vast array of meaningful statistics we often overlook the reason the players play (I know its probably money but indulge me here) --- Winning.
Winning, playing on championships and delivering in post season play must also be weighed heavily in determining the best among the greats. Ruth and Wagner won World Series and performed well in them. Conversely, other greats like Ted Williams, Ty Cobb and Barry Bonds did not.
Yes, a player generally cannot get to and win a world series by himself but it seems that at some point or another even greats condemed to the worst teams had opportunites to take their teams to the next level and many -- even past their primes -- have delivered Walter Johnson in the mid 1920's and Pete Alexander with the Cardinals come to mind.
Along these lines it is important to remember in the face of all these neat stats that great players are on teams and must be good teammates -- this also distinguishes playrers who were generally not considered ideal teamates like Cobb, Hornsby and Williams from Wagner, Johnson and Ruth who most teamates regarded highly.