Hmmm.
So they're about equal in speed, and I'm not really sure how one can objectively measure Akuma's skill in martial arts compared to Neo's. Akuma has teleportation and better energy projection attacks, so that should give him an edge there. Additionally, he has the Raging Demon, though I'd say Neo can survive it seeing as he is a Good character with outstanding mental discipline, and can thus clear his mind of rage, hate, darkness, and desires (that's basically what he did at the very end of the third movie in the crater, after he got slammed into a gigantic crater by Agent Smith.)
Akuma may be the strongest character in Street Fighter, supposedly, but we still don't really know how high that is: he could be Large Island at his strongest I suppose, but even if that's assumed Neo is still a considerable deal tougher/more destructive than him since he's only barely not Small Country. Between that, Neo's reality warping, telekinesis that can just hold Akuma in place, his Internal Combustion for a one-hit-kill, and other such haxorz abilities? Even though this scenario doesn't give Neo any of his weaponry, and stops Akuma from holding back, I'm liable to give this fight to The One.