Mike Shinoda is a capable emcee at best, and granted a few of those Fort Minor tracks ("Cigarettes", "Kenji", and a good chunk of the mixtape) were pretty damn solid, but to even consider putting him into the ring of "best emcees around" is quite simply the most laughable s*** I've heard....today.
I don't have enough time or bandwidth to list the number of emcees who can "put words together" better than Mike Shinoda. For a rock/rap/numetal emcee, he's solid. As an emcee in general, he's slightly better than average. That's about all I can give him.