Team 2, fairly convincingly, in both scenarios.
Batman is probably the person who benefits most from getting all his gear but it's still nowhere near enough.
Team 2 is just incredibly stacked, not only are all three incredibly skilled fighters but Mantis is easily the best on either team, Gamora's physical stats are way beyond anyone on Team 1 and in the second round when everyone can use all their stuff, Elektra and Mantis have access to a bunch of weird mental powers that no-one on T1 can counter.
Plus Green Arrow is by far the worst fighter here, by a noticeable amount compared to the others.