Wolverine is wearing his classic yellow outfit. This is current Wolverine.
Commander Shepard is a soldier, and has all relevant upgrades (hard shields, skin-weave, ect.) He is wearing default N7 armor. His loadout consists of an M-76 Revenant, M-9 Tempest, Black Widow sniper rifle, N7 piranha, and the M-77 Paladin. All powers are maxed out. They are fighting here.
Tell me if I forgot any details.