I think it would all depend on who was more popular. In other words, who would bring in the most money. Rather the match took place in 87' or 07'...I think Hogan would win because he is more loved. I honestly doubt Cena will be as popular as he is now in twenty years whereas the Hulkster has stood the test of time. He could be 100-years old and go out to the ring in 2053 and still get the loudest pop of the night.
By the way, the Hogan/Cena match already took place (in a half-ass way) in 2005. Look and see who won.
http://www.youtube.com/watch?v=AMPhBeZ3LFM