an argument for Ares being an EM, but 1) I think Colossus and Thing are the absolute highest of the EM rank. 2) I understand this gets a bit murky, as Hercules is usually considered the tip of the PM mountain, and Hercules doesn't seem that far away from Colossus. These things have a tendency to run together.
---the late great Donald Blake
In terms of Strength, Thing/Mr Incredible/Ares/Hercules/Colossus and others are pretty equal. Also durability.
However, Hercules and Ares both have a form of immortality and regeneration. And we even saw Ares battle Shaman Nate Grey on the Astral Plane and in a dimension between seconds.
It's also why most versions of Solomon Grundy would rank higher than EM. He has a sort of mystic regeneration to go along with his top tier strength (depending on which incarnation Grundy is).