Argentina has virtually no air force wand what it does has are 40 years old. It does have some modern ships, but they are small; everything else is the same age as its air force.
UK: no contest.
The Brits are no longer capable of a redo of the Falklands war, neither militarily, nor morally. The Royal Navy is reduced to near zero. The RAF and Fleet Air Arm has no ability to strike Argentina of to even deploy to the Falklands.
They have given nearly all their ammo to Ukraine.
A smart asymmetric Falklands offensive would win. Simply arrive in commercial shipping and walk ashore unarmed, and in huge numbers and claim to be refugees. The Brits are incapable of mass arrests or deportation. They are incapable of shooting at waves of Argie civilians. The Brits have 2800 people there. The Argies could triple that number with two or three “refugee ships” simply pulling in and dropping ramps. Basically, it would be a seafaring version of the Green March. Simply walk in with masses of settlers and refuse to leave.
One of the ships that survived Pearl Harbor and was later sold to Argentina was sunk in that war.
3 reasons why UK would win:
SAS
Royal Marines
Regiment of Gurkhas
Argentina could perhaps handle Uruguay. Against Britain? Not so much. Their military is a shell of what it was 40 years ago.
Of all the problems Argentina is facing how stupid does Milei have to be to choose this as his rallying cry?