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Tony Stark and John Henry Irons are both transported to our reality. Based on real world physics and technology, both with unlimited financial resources, and two years for design and fabrication, who builds the better suit?

Stark.

I've always found Irons' tech to be more grounded in reality (albeit still not very realistic), so that might give him something of an advantage.

That said, they're both so far beyond real physics/technology that they both likely reach a very similar outcome when you put a limit on them.

They both realize that their comic book physics have no true application in the real world. Irons beats tony to death with his mallet.

Tony.