A point people miss is that Noxus doesn't have any junglers other than Rammus and Shaco. Banning Rammus they'll pretty much have to take up Shaco who can gank like a boss, but isn't too good in team fights. This being the case they won't be able to stack AoEs that many because they'll need sion or singed to tank then. So assuming they take up both ranged carries I see the team being Shaco, Sion/Singed, MF, Kog'Maw, Morgana. A good damage output but a bit squishy.
Ionia as a bunch of junglers, hard to say who will be banned. Maybe Ashe or Amumu. If Ashe is banned I can see the team being Amumu, Kennen, Ezreal, Akali, Master Yi. If Amumu is banned then Shen, Kennen Ashe, Akali, Master Yi.
This all being speculation of course; the players can really excel with their personal champs and may choose differently, plus there are counter picks to be considered such as if Ionia gets Soraka (don't know why they would...) then Kat and MF can counter with their healing reduction. I personally think the teams are balanced except for Ezreal being kind of underwhelming as a ranged carry and Ionia needs melee carry Yi to pick up the lack of dps.