Techster
Helluva Engineer
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You're assuming the level of competition has remained the same. Gailey coached in an ACC with a down FSU and Clemson and North Carolina. So down, in fact, that Wake Forest won the conference (against Gailey's team, ironically enough). No one is suggesting Johnson walks on water or that Gailey was a bum, but it should seem clear that Johnson is a superior coach. As for O'Leary, he had a terrific 1998 season, but people remember him fondly because he beat UGA three times in a row. I won't hold his record of hiring great assistants against him, but the Fridge was the highest paid assistant in America when he was here. Let's give Johnson $2MM to hire a DC and see what happens.
One could argue that the ACC was a pretty weak conference when CPJ got here as well (ACC has ranked 4th or 5th out of the P5 conferences since they started doing the conference rankings). It use to be if you could get by VT, the ACCCG would be GT or VT's to lose. Clemson's rise and FSU's return to prominence is recent...as has the rise of teams like Duke and UNC (which CPJ use to run roughshod over).
O'Leary is remembered fondly for getting GT out of the Lewis mess, and winning a lot of games after he stabilized the program. He didn't walk into an established situation like Gailey and CPJ did. He also took us to bowl games every year after he stabilized the program during a time when bowl games were hard to come by and less than 50% of teams could go. 1998 was a good year, but so was 2000 when we went 9-3...a time when college teams played less games. Let's not disparage one coach's accomplishment to prop up another.
Your use of hiring good assistants is one of the main criticisms of CPJ...he has a few that aren't performing at the level. Getting and keeping Ted Roof on staff isn't exactly on the cheap ( http://sports.usatoday.com/ncaa/salaries/football/assistant ). I believe he's gotten a raise since that link was published. Part of a coach's job isn't just identifying and developing players, it's also identifying and developing assistant coaches...which O'Leary, Gailey, and Ross were really good at (seriously, look at what coaches under them are doing now). So in that regard, CPJ is sorely lacking compared to his predecessors.
BTW...neither O'Leary or Gailey was making $2 million back in the day...and Friedgen was highly paid, but it was not as exhorbitant as you would like to make it out to be.