This is an interesting one. Both have returned from the dead. Both have changed greatly from there inception. Back in Omega Men 3 we got our first look a Lobo and he looked a lot like a clown literally. Back in an early fantastic four I got the Marvel UK pocketbook version about 10 years after the original FF, Acam Warlock was called @Him@ and created by the hive. The original Lobo would have beaten unless they atomised him as every cell could duplicate into another Lobo. When he had these powers neutered in LEGION he became a much weaker character then he became immortal. The writing in Lobo alters his chances greatly as he is often classed as a satirical character e.g. Lobo v Santa or the easter bunny. Him at first appeared far more powerful than he was as Adam Warlock, He fancied Sif early on and pre gem went toe to toe with Thor. He seemed to have energy powers in the first FF which he has lost. He has though gained a soul gem. They are very different characters so it is extremely difficult to decide Lobo though is in the present incarnations more poweful.