Despite being a bigger fan of Foley, i too would have to give it to Flair.
The man had a 35 year career that held out strong despite suffering a broken back in the 70's. He went on to become one of the biggest draws in the history of wrestling, arguably surpassed by Hogan and Hogan only. He's had numerous history making fueds with some of the greatest names professional wrestling has ever seen, and has had a huge impact on the lives of god knows how many up and coming pro wrestlers. He may have been a terrible booker, as some, including Foley have stated, but that's not going to effect anyone's views of Flair the wrestler.
Foley has also had a storied career spanning 15 years, actually debuting on WWF television first of all, against the British Bulldogs. But what memorable things do you remember him doing in the ring that didn't involve him damn near mutilating/killing himself with some ridiculously unnecessary spot? The only real answer you could possible give, would be his promo work.
He became the King of the Deathmatch over in Japan as well as becoming a mid-card star in WCW, being utilised for his hardcore style, and then went to ECW as part of a contractual agreement between the two brands, where his hardcore style was the primary focus again. Then he came to WWE, fueding with the likes of Taker and HBK and tagging with Vader, until eventually they ditched that persona and Mick Foley became the poster boy for breaking kayfabe. Kane doesn't come out as Isaac Yankem or Unabomb, and Rikishi never used to come to the ring dressed as the Sultan, but Foley was basically able to pick up gimmicks and toss them at the drop of a hat, to the extent that in one angle, even Al Snow started doing it. Doing that, near enough BECAME Foley's gimmick.
Think back to your favourite Foley matches and ask yourself, 'what is it about THIS match that makes me enjoy it so much? Well it won't be the ring psychology in the '98 HIAC match will it? You're not going to say 'I loved the excellent counter-wrestling in his street fight at RR2000', you'll say 'I loved it when he got Pedigreed on those thumb tacks.' You're not going to talk about the excellent storytelling that went on between him and the Rock at RR'99, you're going to bring up the 20 odd chair shots to the man's face. If you say otherwise, you're probably lying.
My other problem with Foley, is that he retired nearly 9 years ago now and has made more comebacks to the ring than most legends. Hell, he's probably catching up to Funk's record at this point. With his current stint, i understand that he's supposed to be trying to help TNA get over. I don't understand how they hoped to achieve that with him winning their World title.
Here's a guy who, when he was a fully contracted wrestler, didn't win on PPV 8 months straight. He then came back to fight with Orton, and still never won. He then wrestled Carlitio at a random Cyber Sunday and won that, and then went back to putting guys over, by losing to Edge at WM. So, at this stage, Mick Foley had become the ultimate jobber to the stars. You were doomed to remain a nobody unless you beat Foley in a hardcore match, which nearly every up and comer, did.
He goes to TNA, and wins their title near enough straight after getting back in the ring full time, and this is supposed to help make your talent seem worthy of our attention.
'Hey look, WWE's favourite punching bag, Mick Foley is the TNA World Champion! Those guys must really suck.'
Now, i've obviously not watched TNA properly, nor do i know how Mick's title reign panned out, and obviously him winning the title wasn't his choice, but when you come on air and proclaim yourself a major share-holder, naive marks are going to think negatively towards your talent when that same beat up old spot monkey waltzes in and beats your top legend for the title.
Also, there's no way in hell he'll ever get in the HOF now, despite giving years of his life to Vince McMahon and the WWE fans.
Foley had 2 main things going for him. He was an excellent talker, and he's damn near indestructible. Flair was near enough the total package to make a top wrestler that would outlast most. Essentially, Foley has always been exactly what Flair always said he was. A glorified stunt man, but in the late 90's/early 00's THOSE were the guys that seemed to shoot up the fastest. Hardcore wrestling was at it's peak in the late 90's, back when ECW was getting on the map. Now, while the fans may very well still want that type of bloodshed, thankfully wrestling has moved back to the more technical styles but with the emphasis more on the gimmickry and talking, but that's another story.
Foley was perfect for that era of wrestling, and he, along with Taker, are my 2 favourite wrestlers ever, but for all round skills-wise and drawing power, Flair is the better wrestler by leaps and bounds.