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Adam Sandler is alright, though he relies too heavily on the same tricks which aren't all that fun to begin with.
Will Ferell....
...Is a genious!!! Greatest thing since sliced bread, that man is. Just saw an episode of The Tonight Show with Conan O'Brien, who's taken over from Leno, and Will Ferrel was hilarious as always.
He's hilarious doing his thing, wether in interviews or playing a character in movies. The funny thing about him is, he's always doing a character, even when he's being interviewed, he improvises some jokes, but they're delivered as though he's being utterly serious.
That contrast between the over the top silly stuff he conjures up and his convincing seriousness is a recipe for hilarity.
Will Ferrel's movies may not always be great, though I think they're always decently funny thanks to him, but I'd say he's the greatest comedic performer of his generation.