With Ragnarok, i don't think that even Rai stands a chance.
That swords holds a lot of power and we can't forget that some of it comes from the very strong previous Lord, that was clrealy someone with incredible skills, probably even higher than Rai's.
I think Rai would win if the Lord didn't had the soul weapon, but with it, it might be too much even for him.
But we also don't know if Rai possess any Soul weapon, so this is opinion doesn't hold much coherency.
I guess we net to wait for more info
I currently think that the Rai is stronger than the current Lord.
I'm leaning towards that his powers might be equal to that of the previous one (ex lord).
If the current Lady Lord manages to posses Ragnarok, then she will definitely have an advantage over Rai in brute strength.
This is assuming that Rai does not have a Soul Weapon of his own to match.
In either case, I believe though Rai will have advantage in-terms of battle preparedness or experiences.
Hmm.. I hope that Rai is as strong as the current lord only for the sake that, she could put up a good fight against him, if a fight shall occur in this arc. I also would prefer if the current Lord is indeed stronger than Rai but he overcomes this hurdle due to him having more battle experience or his body being unstable because he slept for too long. And still manages to be victorious I think I'm not the only one who wants to see Rai fight for 'real'.
Rai and the present lord seem to have a DEEP rooted animosity in between them, its more or less obvious that they may clash.
In fact the last chapter makes things moves to the knife edge tension
so who do you think will win?
I also think that Rai is stronger than the current lord. He seems to be a wise person who calculates his moves well enough. Not to mention if he really has a soul weapon, or if he can use Ragnarok which is found inside his shrine. (I think it doesn't seem to be the same with what the current lord has on the last chapter, but well...) But the lord is the lord, so... I think Rai would definitely have problems. Even more since we have never seen him doing an actual physical fight before. ^^"
I think the confrontation between Rai and the current Lord will show us if Rai indeed has a Soul Weapon of his own. No matter how strong Rai is, I can't see him fighting the current Lord head on without one. Maybe through this fight will we see the extent of Rai's powers and I hope that he will take a drip of the Lord's blood and activate the real Ragnarok in front of her since he is the one who governs blood.
I think the case with Ragnorok is the same case we have seen with the pair of Knives that the Stealth Lord and his Younger brother both have it as a soul weapon but one is better than the other in terms of strength... As the Lord as All the previous lord's strength plus most of his father's soul in his blade, whilst his younger brother's knives have just a portion of his father's soul... I can see this as the case for Ragnorok, as we have seen that the Previous Main Lord left Ragnarok in Rai's mansion for Rai to find later on.
So maybe, based on the strength of Ragnarok, Rai is behind (if he really uses Ragnarok, that is). But he controls blood... I don't know. XD
If they really battle I think the current Lord will have a little advantage. Not because Rai's weaker but because he's not back to his old strength yet. He coughed blood when he used "Blood Field" to annihilate Krants, so the longer the battle will drag on, the more advantage the current Lord will have.
I wouldn't want Rai to overpower her easily because that would just make him a tad too strong.
I'm sure it will be a draw, becouse even before the fight will end, the old Lord should show itself as a hologhram.
I am sure that the battle will commence to placate us fans but the Old lord would come and adjure it off. Then Rai will be seen as a good guy by the clan heads and the old lord grudgingly would accept that Rai has got nothing to do with this.
But a fight to the final will definitely occur, that will be off for later i think.
If Rai fights his all here then what will he show in the later part of the story i mean its not like he is regis and has a room from improvement i think he is at his optimum atm(disregarding the handicap of sleeping so long and not using his power for that long)
He may be a little groggy from his 820 year nap but i still think Raizel would absolutely crush her.....if he wanted to. Which i don't think he does, nor do i think he will.
I don't really have any evidence to back those statements up, just a gut feeling really, but i don't think anybody we've seen has a ghost of a chance against Raizel if he gets serious; with the possible exception of the previous lord wielding Ragnarock, because i get the feeling he was freakin' monster.