I believe that Adam and Marvel alike would get a slight majority over a general brawl over Superman due to their stats and magic edge. If Superman truly exploits his abilities here (within reason/character...not some of the stuff people think he'll do in a typical forum match), he could beat Captain Marvel/Black Adam. He also knows that in a direct physical encounter, he needs to do something aside from trade blow for blow with them, too, so I figure he'd resort to HV and other abilities. And Adam knows he needs to lay the magic packed ass kicking on Kal to win, too.
Pretty much this. Thor is capable of an AoE energy soak that would essentially make him invulnerable to most of Surfer's attacks, and his lightning has wrecked Surfer before. But we all know Surfer's capabilities and powers, and he's never an easy out.
Most writers ignore such things though, relying on the hammer to be directly in front of the energy attack to absorb it. But if you count such feats, and I do, he has the most potential in this fight.