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Even defeat can show how good one can be? (5,4)

Ross

I believe the answer is:

level best

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'show how good one can be?' is the definition.
Although both the answer and definition are singular nouns, I don't see how they can define each other.

'even defeat' is the wordplay.
'even' becomes 'level' (synonyms).
'defeat' becomes 'best' (besting is a kind of defeating).
'level'+'best'='LEVEL BEST'

'can' acts as a link.

Can you help me to learn more?

(Other definitions for level best that I've seen before include "Utmost effort" , "Hardest" , "Maximum efforts" , "joint winners?" .)

I've seen this clue in The Irish Times.
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