Cole is the better rapper at this point. However, if both ended up making a joint album, I think it would be epic.
Wale's interesting because he does have an expanded range. You can also feel the emotions in his verses. I think it took him a minute though to get there....was definitely too commercialized when with Mark Ronson and initially did a bit too much with MMG, until they (Wale/Ross/etc.) finally let him be who he is.
I think once Wale stayed true to where he is, you saw the ceiling was through the roof.