I disagree, IMO a league format is a better way of determining the best of the best because you don't have to play everyone in a knockout tournament. The result is influenced by the 'luck of the draw' in terms of what opponents you are drawn against e.g. if you recall a couple of years back when somebody analysed Chelsea's FA Cup draws they seemed to have a fairly good number of lower league opponents.
If a knockout format is deemed to show the best of the best then why is the League title held in higher esteem than the League Cup?