Fedor would have been a heavy favorite. Any match up has some unpredictability to it, but on paper everything favored Fedor.
The only things Randy really had going for him are home field advantage, and being a great underdog.
Both guys were very good strategists. Wrestling might have been 50/50 but Fedor had better grappling overall. Fedor had better striking. Both had very good gas tanks for HW. Fedor was younger, faster, stonger, heavier.