I'd say team one. Cyclops would most likely take out the joker in one blow, plus he's is a leader and has a strategy for almost every situation against Sinister. Batman with him means they'd probably have a better plan over a joker and a madman. I think the Joker seems like the weakest link and would be the first taken out. Then its 2v1 against sin.
if sinister is able to bring clones or alter his physiology he should win unless morals are off then batman trashes mr sinister is obsessed with cyclops im pretty sure hes already got something sitting on his shelf to take him out