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No prep, straight up fight. Just picked various Alpha Flight members. Alpha Flight bios:
1. http://en.wikipedia.org/wiki/Alpha_flight

Alpha Flight
1. Guardian
2. Vindicator
3. Puck
4. Persuasion
5. Madison Jeffries
6. Shaman
7. Aurora
8. Windshear
9. Sasqautch
10. Snowbird
11. Radius
12. Marrina

The Avengers :

1. Captain America (Team Leader)
2. Hawkeye
3. Iron Man
4. Namor the Sub-mariner
5. Wasp
6. Giant Man
7. Quicksilver
8. Vision
9. Wonderman
10. Black Panther
11. Luke Cage
12. Thor
13. Hercules

I'd lean towards Alpha Flight. Shaman has plenty of tricks to handle Thor, Iron Man is like walking steroids for Box. Windshear is basically a more versatile, less powerful Invisible Woman. Even Namor can't take on both Guardian and Vindicator. Sasquatch can distract Hercules, (though he won't win) and the rest can battle amongst themselves. Overall, Alpha Flight has the fastest guys, the most powerful guys, and a bit more versatility in this matchup. It would be epic, but the freaking Canadians should take a pretty solid majority.

Too many participants... Makes head hurt. So... i'll just cosign Dizzle's post. Sounds about right.