Flower Alley improved a lot after Afleet Alex beat him a couple times. I don't think Afleet Alex would have beaten him in the Travers myself. He was a heavily raced horse that probably wasn't going to do much more developing. We'll never really know though.
I think when people rate a horse, they should base it on what the horse actually accomplished, not what he *might* have accomplished. Therefore, AA and SJ were just not great horses. Had SJ won the Belmont, sure, but he didn't. He Afleet Alex not lost to Giacomo and Closing Argument, sure.
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