Yeah, of course. It's like football. Today's players can be compared fairly well to each other, even though they do work in different circumstances ('x is only looking good because his team's system / the league / whatever suits him so well'); but it's almost impossible to compare Messi to Maradona.
I think I would also back Hamilton right now. I am not qualified to compare their exact driving skills, but on the mental side, Hamilton also has the benefit of age and experience, and being more mentally stable in the knowledge that he has already won it all; there is no frustration about anything bigger for him anymore. But maybe he was always like that.