I would say no consumables. Just makes things easier. If team A has every buff potion/score/etc. available, and team B hasn't had time to farm up everything, makes things incredibly unbalanced in that aspect (yes gear has this effect as well, but the no consumables allows you to limit more of the "balancing" factors, not all)
This just adds more balance to it, obviously you can't be 100% balanced but yeah.
To couple off of what Iashu is saying, I find there to be a difference between gear and consumables when it comes to balancing. You generally won't be sitting there swapping stats on your armor, attempting to get optimum setups for any given team you're facing. You can do that with Charms. Additionally, introducing consumables centers the fight more around their usage than the usage of abilities.
Do 10v10.
So much better.