This is a tough call, but I went with Serpentor. Although the posts are very insightful and creative.
We know in the toon this already happened and Serpentor moved on while Duke got carted off. Not a direct comparison, but it would similarly apply what Storm Shadow said of his uncle, the Hard Master: "His compassion was his greatest weakness. It was also his greatest strength."
That being said, caring about a team-mate is highly motivating, but also distracting if this is coming to a man v. man fight.
I could see Capt. Max's theory coming true with Duke saying something like "Just like a Cobra to bring a poison snake dart to a gunfight..." right before he caps him in the head.
But in my scenario Duke and Serpentor would get down into the thralls of the weaponless fight, without either side taking true advantage. Then Scarlett has a moment to decide who to help. CLUNK! She whacks him in the head from behind. And he crumples before the mighty Serpentor. He is then hauled away to the dungeon...and another Joe will need to be summoned to rescue Scarlett and Duke....

I always prefer good to win over evil...and in the end good WILL prevail...but in this round...Duke's blood darkens the carpet of Serpentor's throne room....To be continued....