The girls only chance of winning depends heavily on the Lasso. Other than that, the guys take the majority. PG is a tough competitor, but is slightly below them. Diana can duke it out with either one of them, use her exotic weapons or block anything they throw at her.
Supergirl fts are above PG and Supergirl already owned Ultraman and easily at that. With a dose or heat vision. I would give Wonder Woman the majority against either.
It should be noted Ultraman is less experienced than Superman. It was brought up in Trinity- where Superman's foes keep coming back and he fights them, like, a half dozen times each, Ultraman faces his once or twice... then kills them.
His motivation on several occasions was boredom, after all.
Combined with inferior teamwork (Ultraman is hardly going to follow the orders from some trumped up 'General'), team 1.
Team 2 has the power, but as many people have mentioned Team 1 has the tactical edge, and Wonder Woman is without a doubt the best fighter. I give the girls a slight edge. However if Team 2 fights as a unit they should sweep this.
Ultraman has actually beaten superman one on one and Zod was equal to superman in every category. He even busted two Imperiex probes without any shield and without getting nearly killed. Compare that to team 1 and you would see who has the edge in this fight.
Team 2 clearly has a noticeable and perhaps overwhelming advantage in terms of power (Zod > Ultraman > Power Girl =/> Wonder Woman is how I'd stack them up in pure stats) but Team 1 has team work, is better in team situations and have experience fighting together.
Still I give Team 2 the edge. Lasso can make a difference, but only if she can catch one of them in it.