Again picking the 1995-96 Bulls team for this comparison. Starting matchups:
Harper-Irving
Jordan-Smith
Pippen-James
Rodman-Love
Longley-Thompson
Rodman and Pippen would probably switch up some on James and Love. I'm sure James would be able to get his points, especially if he worked on Pippen in the post. But where would his supporting scoring come from? Harper, Jordan, and Rodman would definitely be tough matchups for Irving, Smith, and Love.
On the other end, I don't really see James guarding Jordan much, so who does that? JR Smith? Shumpert? Jordan could drop 40 on those guys every game without even working hard, especially if playing with today's rules.
Cleveland's bench isn't nearly as tough to matchup with as the Warriors' bench. Kukoc, Kerr, Wennington, Buechler, and Randy Brown would be able to match up more easily with Korver, Shumpert, Deron Williams, Frye, and Jefferson, so, unlike in Bulls-Warriors, the Bulls starters would get their normal rest.
Oh yeah, and Phil Jackson >>>>>> Lue. It matters.
IMO Bulls win, regardless of whether playing with 90s rules/refs or today's rules/refs.