If there ever was a encounter with TBP and Lay-cool (By the way i think the WWE is being lame and lazy by giving daft psuedo names for Tag Team alliances. Jeri-show, Show-miz etc) If it came to actual wrestling ability. TBP would have the edge as Lauren (Angelina) and Jamie (Velvet) have actual wrestling backgrounds and in term of Championship titles Velvet has held Multiple championship Titles in various Indy promotions as well. Lay-cool were both in the Diva searches McCool did not win but Layla did but that did not involve wrestling. Yes Velvet was also part of the diva search as well and was a plant in WWE shows and wrestled a few times there.
But getting to the point. TBP have natural chemsitry and an edge to them and they are over with the fans whether as heels or faces. The angles they have had made the Knockouts Division more watchable at the time and their fueds with Kong, Roxxi and ODB and made them standout from the Divas. Lay-cool come across as false, lack the edge and the Piggy James segment was awful.
So TBP would win hands down. And my reasons are their wrestling ability, carrying out their angles better and despite Velvet being one very hot chick, she has one fine ass. On youtube Velvet and daffney talk about the divas abd you can see how hot velvet is.