Classic Black Panther did not have a vibranium suit, or mystic knives.
Shatterstar outclasses him in strength and is about the same when it comes to agility and reaction.
However Shatterstar with no morals, not that he had many in the first place, is more than willing to injure himself to get a kill. He has stabbed himself through the chest more than once to kill someone behind him. Also he has his last ditch vibratory blasts. Classic Shatterstar's swords are also very easily capable of cutting through any defense BP might have. However BP is more skilled.
I would call it 50/50, and if Shatterstar was written by someone other than the hack Rob "what proportion" Liefeld he would be a much better character.
Armed I give it 50/50
the unarmed round goes to BP, Shatterstar is more a swordsman than a marital artist.