By feats Zabuza wins. Even with Chojuro's hype as the mizukage, he doesn't have a single ability that would let him sense Zabuza inside the mist. Superior CQC skills are useless if Zabuza approaches with clones, which Chojuro can't detect. He falls in Zabuza's traps and dies..
Unless, Chojuro as a mizukage has more reflexes than part 1 Kakashi wiht his sharingan pre cog, and survives Zabuza sillent killing (highly unlikely)
And lol at the first scan. Chojuro as in before becoming Kage gets buttraped by Zabuza. Chojuro was shitting his pants against Sasuke only for thinking that Sasuke had defeated Zabuza.