The phucking Surfer is a problem, and team 2 is highly versatile to boot. Then there's the issue of Vulcan screwing up the team work of Nova's team.
Now let's say we enter bizzaro world where Vulcan falls in line. With Nova's leadership and tactical savy, combined with the WM's tactical data, team 1 eeks out 3 or 4 wins at best. In the end no tactics can help them deal with Norrin phucking Radd. They need raw power.
Now say you're still in bizzaro world. The situation is desparate. Nova demands that the WM give him full Nova force, takes off the energy siphoning suit and removes all mental inhibitors. Now they're in business. Team 1 all day. Of course, then Nova will have lost his sanity and prolly tries to kill everyone and we'd have the "Starlost" arc all over again.
Nobody is winning against Surfer in one-on-one. Team 2 still have to heavy weaklings in Captain Marvell and Drax. Team 1 has also his weaklings in Ronan and Super-Skrull. Team 1, if they can pwn fast enough the two weaklings of team 2, they have a shot. But I think that the heavy hitters of team 2 might wins it for the team, more time than not.