This isn't a matter of leadership between the two if thats what you're trying to prove... This comes down to team powersets. Iron Lad is going to have an advantage that unless you're going to give the two leaders a week/few days of prep Cho can't overcome. I'd say Lad is more charismatic but Cho's battle calculation and capabilities make him the more formidable long term opponent IMO. Also you have cloak wiccan and Varr on the same team why not throw Thor on at that point...
Magik is team 2's only shot and thats a big if. You gave team 2 useless bricks that will be bfr'd by cloak.