Well, Wario has strength, but no speed. Sonic just has speed and his strength comes from that, but thats just a factor, rite? Wario has huge strength from just being so big. That means it is going to take a while for Sonic to knock him out.
@The Sleepy One
what do you mean? Sonic can still run fast, what nerfs are you talkin bout? JOE! said in the OP "Sonic on the other hand, can still run fast, and curl into a ball to do *some* damage, but nothing like the super-natural stuff he pulls off in his games.
So, if this holds true, Sonic COULD (not saying he can, its a factor) do a hit and run technique. He can run and quickly attack Wario from one angle, then use his spindash to attack from another angle. Now Wario can take hits, his body mass is pretty big. It would take some time, but Wario will fall eventually. Or Sonic could go aggro and attack Wario while running at extreme speeds to add to the damaging properties.
If Wario somehow times his attacks to hit Sonic while he is trying to attack while running at him, its going to hurt. Wario's strength is pretty awesome in reality. It could even be a one hit KO is Wario gets one strong hit on Sonic while running. But that require lightning quick reflexes. OOOR, his bike. that could make this match entierly in Wario's favor or a draw.
A bike to stop Sonic, a bit of speed for Sonic, what can be made from this? a draw is what it is most likely.