If you discount the germs and the gunpowder, how did the average Aztec warrior match up against the average Spaniard facing him? As I understand it European metallurgy was considerably more advanced, but was it decisive or did it just give them an advantage? Were the Aztecs able to pierce Spanish armor? Were their weapons effective against Spanish tactics?
A vital part of Cortez's battle plan included rallying local tribes to his cause, but then again even a few dozen Navy SEALS wouldn't be able to stand up to a continent's-worth of angry locals, so needing allies in the New World is kind of a given. But facing off against a similarly-sized group of Aztec warriors, how likely would a Spanish victory be?