While I think you the two posters above me are underrating team 1's matchup, I do agree that it would probably win if two equally skilled players were to face off using them. The lack of Stealth Rock on team 2 is the biggest issue here, since you could have very well chosen to use any Pokemon that can carry it over Froslass to set it up.
Raikou seems like team 2's only real win condition to me here. It has setup opportunities versus Zapdos and -2 Roserade and absolutely nothing on team 1 is safe from it once it sets up. Number one priority for team 2 should be weakening Nidoqueen to the point where a +1 Hidden Power Ice can OHKO it; at that point it has the potential to get a kill every time it comes in.
I dunno, if team 2 had Stealth Rock Azelf (or even better, Uxie) over Froslass, I'd pick it to win every time, but as it stands, team 1 looks like the winner.