I despise everything Mourinho represents, but it's not even a contest between him and Guardiola. Yeah they both have spent heavily, but Jose has proven time and time again he can be highly adaptable and have success even with unbalanced and imperfect squads.
Guardiola needs to either inherit a great team, or pull out a checkbook and spend 80 fuckzillion, otherwise all his supposed tactical acumen isn't worth jack ****. Even when he does inherit a great team he has his head too far up his own *** to play anything except his own brand of football. He completely ruined Heyckness's Bayern despite 3 years of work and reinforcements with top class talent brought in every transfer window.
In a perfect scenario where they both have unlimited budget and can bring any talent they want, I would give Pep slight edge in the league because his proactive approach to controlling every game works excellent in the league.
But in cups I would give huge edge to Mourinho. Cups by their very nature require more cagey and reactive football, sometimes you just need to grind it out. Abandon your principles, abandon your hipster style, abandon your vision, and just grind it out. Park the bus and boot it up the pitch for 90 minutes if you have to, nobody cares as long as you win the tie. Ferguson knew that, Mourinho knows that, Guardiola does not, and that will always be his biggest flaw.
Far as I'm concerned, Guardiola is basically Wenger with money - they both stubbornly believe that always walking it in is the best way, but Guardiola actually had funds to put that philosophy in motion.