As much as I love balanced rosters, I have to admit that team 1 would probably win the game, unless their starters had bad stamina.
With that said, team 2 is by far the team I'd prefer to own. Team 1 costs more money per week to maintain, plus in every single game you're playing a game of virtual Russian Roulette; one injury or even one foul-out and the wheels begin to fall off. Not to mention game shape issues, since your starting 5 constantly have to play 40+ minutes unless there's a blow-out, so even if you tank the cup for the season you're still significantly over the ideal.
Team 2 allows your starters to take more breaks, so even if they start both league games they'll still be at around 70 minutes, which is within the acceptable range. Foul-outs and injuries don't hurt your team nearly as much, and even if you prioritise the league for the season, you can still roll out a decent line-up for the cup games and advance a few rounds until some lowly upstart decides to crunch time you because he's suicidal or something :P.
My team right now is a great example of a 'balanced' team, albeit with lower salaries across the board than those mentioned in the OP. I'd like to point out that I currently have the 4th best overall record in my league, despite having the 2nd cheapest roster in the league and barely being above the salary floor...