McCain demonstrated more personal courage than either Reagan or Churchill were ever required to. McCain is not likely to approach even remotely the greatness that Reagan or Churchill exhibited as political leaders. Personal courage is a quality that should be taken into account when picking a political leader. It shows steadfastness in the face of pressure, which is helpful in the event that a leader needs to go against the prevailing opinion of the masses or the elites.
Not every leader has had the opportunity (or misfortune) to be required to demonstrate his courage. Lincoln had no military experience, Reagan very little. Good conservatives like Jim DeMint, Fred Thompson or Bobby Jindal may have had little or no military experience, and probably could not match McCain for courage in the face of bodily danger. But they would make better Presidents than McCain, because policy positions and steadfastness in the face of political pressure is more important in a leader than raw courage. You should have courage, but it should be courage in your convictions. And the convictions need to be worthy. Otherwise, we could just search the nation for the bravest soldier, firefighter or cop and annoint him President. But then, we might end up with Jim Webb, George McGovern, Bob Kerry or Jim Stockdale as President. We're not looking for a courageous idiot, we're looking for someone who can lead us away from socialism. McCain may be better than Obama, but a Churchill or Reagan, he is not. The two things are different.
John McCain, I salute your conduct as a POW. You are a man among men. Why did you cut Phil Gramm loose so fast if you are so fearless?