The 86 Celtics would win!
I think MJ would own LeBron and he would be crying. I think Rodman would if he is on that bulls team would give them fits. You might even see him put on back hard. I think the Bulls could lock them down. Jordan could guard Wade, Pippen would guard LeBron and Rodman would take down Bosh. I think the Bulls would run their legs off. No one could start Jordan but I think Rodman and Pippen would cause problems for LeBron. LeBron on Jordan might work though but it would hurt his offense severely.
I think you are greatly underselling just how much faster, stronger, and athletic the Heat are as a whole. Rodman couldn't guard Lebron in 96, which means he would be on Bosh, which leaves Longley trying to guard Haslem, Anderson, Battier, or Lewis. Lebron is bigger, stronger, and faster than Pippen, which means he would have his way with him wherever he wanted. Even Wade would be a problem for Jordan at that point in time as a result of his speed. Chalmers would blow by Harper every single time down the floor. Certainly on the other end of the floor a lot of the same things would be present, but Rodman and Longley aren't exactly offensive juggernauts, which would allow Bosh and Haslem a lot more free reign to help Wade guard MJ or Pip and Chalmers guard Harper (in the post). Lebron would be fine on either Pip or MJ defensively and wouldn't need the help. I could also see the Heat going big with Wade, James, Battier, Lewis, and Bosh. That would allow Wade to guard Harper, Lebron on MJ, and Battier on Pippen, which would create huge match-up problems for the Bulls on the defensive end.
This Heat team, if it can close this season out, will go down as one of the greatest teams in history. It has 3 HOFers in their prime (including one of the best players ever and who very well may go down as the best player ever when he is done), another HOFer at the tail end, and a lot of very strong depth and role players.