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Thanks for the detail I'll add your vote nowBreaking this down I guess
Physicals
As I said, Danny has an AP advantage of 2.5x even without the Iron Fist, which is a small but significant advantage. The rings will give Shang-Chi a better shot, but since they are indefinitely higher it should be assumed that Danny is capable of taking his normal blasts. Danny is also portrayed as pretty resilient mentally, but he can be overpowered like by Typhoid Mary.
Abilities/Equipment
Without the Iron Fist, Danny is still capable of manipulating his chi as demonstrated by the cool but weird gun scene in the Season 2 finale. But with air blasts and shit with the Ten Rings as well as a staff, Shang-Chi definitely has more versatility here. Although could Danny channel his chi into the rings if he gets a hold of them? Idk.
Skill
A bit tough because the fight choreography in Iron Fist is terrible. Considering they both had intense training since a young age I'd say it's fair to say that they're equal like in the comics.
Conclusion
Shang-Chi definitely has more versatility here as he could hold Iron Fist at bay by spamming Ring blasts from a distance. That being said Iron Fist demonstrated that he was capable of barely defeating Davos through skill despite the latter having the Fist by the end of Season 2, and considering Shang-Chi was able to contend with Wenwu prior to taking the Rings from him, there are effective ways to beat them through sheer hand-to-hand skill.
Think I'm going to go with an inconclusive tbh. They should be basically equal in skill unless we get a fight of them in the future that proves otherwise, neither of them have an especially impressive power set, Danny has the greater AP here and would win if he manages to dodge the long-range attacks and disarm Shang-Chi, but Shang-Chi has more versatility with the Rings and would win if he could hit Danny enough times with Ring blasts.