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https://static.comicvine.com/uploads/original/0/244/76749-60062-loki.jpg

No prep.
No BFR.

https://static.comicvine.com/uploads/scale_medium/0/3664/144975-124679-manitou-raven.jpg

Loki wins this, by dint of having more, and better, feats.

That said, I really liked Manitou Raven's initial look (as seen in OP) - too bad it was too detailed to draw on a regular basis.

He does look cool there, yeah.
Not gonna lie, was hoping for a better turnout. A good old magic brawl.