I seem to remember that in some comic, they actually DID team-up, and literally either shook hands or high-fived and shouted "Fire & Ice!", seemingly as happy at the prospect as readers must have been.
As for versus ...
I can't imagine early stories would have featured more than a steam cloud.
With Torch's greater power during that period however, the fight would be his to lose the moment he actually got serious, especially since Torch can fly and Bobby can't.
If you want a near equivalent, however, check out re-runs of the old "Spider-Man & his Amazing Friends!" cartoons from the 1980s. At one point, villains have Firestar and Iceman in temperature-contrasting rooms; Firestar they are trying to freeze, Iceman they are trying to melt and presumably, eventually, burn.
In reality, the two, unbeknownst to each other, are being tricked through fear into pitting their power against each other with the goal of both taking the other out ...
That, again is/was the main "versus" I remember.
Note that YouTube has been taking down clips recently; you might want to view that snippet, small though it is, while you can.
Now that I give it some more thought, having seen Spider-Man and his Amazing Friends going against the Sandman a few minutes ago, and a few moments prior to that thinking how the trio of Pete, Angela, and Bobby dealt with (a) some robot(s), I'm thinking that we saw little of Torch and Iceman because the premise of Fire and Ice partnering was one of the basic premises of that show.
For the sheer awesomeness of Lockheed spitting fire into DH's eye and into his head..
S.W.O.R.D. was basically Death Head's best showing since Transformers, imo.
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