As far as I've been able to tell, the best team to pick is Sweet Pea for Player 1 and Stonewall for your CPU partner.

Sweet Pea has the best 3-Point Shooting stat, and a very good Steal stat.

Stonewall seems to be a high-powered mutant of some kind, and he will very graciously murder the other team and serve up the spoils to you at the 3-point line.

I tend to believe that the character who appears on the cover of the game is the best one in the game, but while Sir Charles is very good, I think Sweet Pea makes 3-pointers more consistently, and that's the key to racking up points fast.