Rhyperior being slow as mud prevents me from thinking of him on the same level as the other offensively inclined suspects right now - the power is pretty awesome, but it's pretty easy to shut down because of how his stats are distributed with the shitty Speed and Special Defense. He's definitely good, but I would (but the UU viability bs thread wouldn't!) put him on the same level as like Venusaur, Raikou, Milotic, Registeel, and Arcanine where they are the tier of Pokemon who define the tier, but aren't in much risk of being removed from it (that is, a tier below Froslass and Moltres in that regard).
I think there's a very different type of "playing around" something like Rhyperior who is never going to outrun anything unless it has a speedboost and playing around something like Raikou (who doesn't have nearly as much power) or Yanmega or Moltres (who have similar power and more speed) or whatever, it's a little simpler when you don't need to have one of only a few viable pokemon to outrun it. I think that Latias comparison is awfully ridiculous, too, since Latias is both quicker relative to her game and easier to switch in. Dragon is a much better attacking type than Rock (and especially Ground), as well.
I should really muck with Subperior some more before I talk too much about the set but I hate reducing Rhyperior HP intentionally, since one thing I do like about him vs. the other offensive Pokemon is that he can actually be at least somewhat of an asset defensively with the nice HP/Def. The kills are much less guaranteed with a band, but it sure is easier to get in more than twice that way. It has the nice advantage of being at least slightly less worthless against rain teams with sub, though, which is one reason I'm hesitant to use Rhyperior much these days - hard for it to have any impact at all against those teams.
Speaking of the other similarly powered Pokemon above, it always amuses me that Registeel never gets any attention in threads like this one, since he is so many teams generic counter to almost everything.