I know we haven't really seen fully what the white light can do (YET) but for our purposes the White Lantern is Hal Jordan and he has FULL CONTROL of the white light entity.
Based on who Sinestro fought and how well he did, the fact that he was handicapped while being the host for the "Entity" (not fully in control), Sinestro was connected to all living things, and that the "Entity" spawned Ion and the other creatures of emotions. I think it's safe to assume that Hal would have Classic Ion like abilities AT LEAST.
Classic Ion is Kyle (of course) and has his full range of powers (near godlike).
And most know White Phoenix of the Crown.
Round One: White Lantern Hal vs Classic Ion Kyle
Round Two: Winner faces White Phoenix