This team of heavy hitters against this powerful duo. If they lose I guess they all die. If they win, who dies and survives? Can they, and will they overcome these two powermad lunatics?
Superman (sundipped for 24hrs)
Thor (w/ belt of str & armor w/special gaunts)
Wonder Woman (fully geared)
Silver Surfer
Orion (w/motherbox)
Gladiator
Green Lantern-Hal
Beta Ray Bill
Shazam-Freddy
Genis-Vell
Martian Manhunter
Nova Prime
Captain Atom
Black Bolt
Firestorm
Quasar
Honestly, if the team meshes well and employs good teamwork, they could survive with maybe some critical injuries and no deaths. There is simply a whole hell of a lot of powerful energy manipulators coupled with the ability to tank a lot of damage or avoid it outright. Genis-Vell, Thor, Beta Ray Bill, and Surfer alone can damage control like crazy. I'd say the "weak links" would be Shazam Freddy and Glads, and even then, not really weak at all. The team has more than enough WTF factor to fight the duo and walk away with a solid majority, imo.
If the roster for Team 1 was cut in half, maybe. As is, the team can do pretty much anything and has the numbers, defensive, and offensive means to win this.