Before anything, I'd like to say that I have all the respect in the world for Jay, who's a class act and whose work ethics, humbleness, demeanour and even physique are all very undervalued and unappreciated. In his own way, Jay's raised the Mr Olympia title to another level. He will never be as impressive physically as Ronnie was at his best, but that's not taking anything away from his persistence, focus and discipline.
That being said, I think that the following bodybuilders from the past, in their best shape, would have beaten Jay in his 2006 Mr Olympia form:
Ronnie Coleman,
Dorian Yates,
Flex Wheeler,
Kevin Levrone,
Markus Ruhl,
Chris Cormier,
Aaron Baker,
Mike Francois,
Lee Haney
and possibly Shawn Ray.
What do you guys think?