Which Squadronners are based on which Justice Leaguers?

Doesn't this take away from the enjoyment of the story?

No, I don't think so. Comparing and contrasting is a basic human function [some are more susceptible than others (I think they become Mark Gruenwald fans)] hence we get comparisons between the USS Enterprise and an Imperial Star Destroyer, between Star Wars and The Wizard of Oz and between comic book universes such as various Marvel and DC Verus and the recent Amalgam.

In the case of Mark Gruenwald's Squadron Supreme Limited Series I think the parallels to the Justice League helped. Think back to your first issues of other team books, how lost were you? The back to the first issues of other team books, how much story was taken up with their identities, powers, backgrounds, relationships? Gruenwald had 12 issues to tell his story. Our knowledge that these characters match the JLA allow us to match these characters quickly. We accept the "default" characterization (when the Golden Archer says that although the Whizzer has known Doc Spectrum longer he thinks he knows him better) unless and until Mark tells us differently. Then our minds, play the similarities/differences game, are quicker to pick up the passing reference.

Other characters/other parallels

Alternate Squadders

Just something to think about

Lady Lark: Hawkwoman
She became romantically involved with Blue Eagle, and after he died wore his wings to honor him.
(No, I don't mean this seriously, not even as seriously as I can get talking about comics. In telling his story, Gruenwald had her split with the Golden Archer for the nearest available bachelor. Note to ask his subconcious, though, why did he make Blue Eagle the nearest available bachelor?)
Tom Thumb: Oberon
This whole page is part of a penance for my spreading this incorrect speculation. I tried to blame Jeff Rovin's The Encyclopedia of Super-Heroes (ISBN ####), but no, it lists Atom.
I'm still sure I read it somewhere. Can anyone help? It would have to be some survey of comics, and probably not by Marvel, as they would have the straight dope.
The Squadron Supreme Limited Series may predate Oberon's involvement with the JLA. Ray Thomas' creation of Tom Thumb (whom he based on the Golden Age Atom) definately does.

The Villains

Master Menace: Lex Luthor
Cerebrax: Brainiac
Although visually similar to the robotic Brainiac, this is Master Menace's servant.
Scarlet Centurion : Lord of Time
Ape X: Gorilla Grod
Lamprey: Parasite
Quagmire: Sinestro
Not a perfect parallel (but then there are lawyers to prevent perfect parallels)
Mink: Catwoman
Squadron Sinister's falseHyperion: Bizzaro

Others

Original American Eagle: Golden Age Hawkman
A member of the WW II "Golden Agency"
Mrs. Dore: Golden Age Hawkgirl
No, I don't think she had super powers, but I wouldn't put it past her to have appeared in American Eagle's uniform once from a distance to keep criminals from finding out that he was gravely injured.
Lonni Lattimer: Lois Lane

Any parallels with the Marvel Universe?

There have been links between these characters and existing Marvel Universe characters. Although this won't help in claiming "originality" it might help avoid being sued for lack of same.

Hyperion: Ikaris
Excellent stroke by Gruenwald, making him an Eternal. It explains his strength, flight, and eyebeams in one stroke.
I've specifically matched him with this son of the Polar Eternals because I hope that when Hyperion returns to Earth-Squadron that he searches for his people and finds a fortress in the solitude of the Arctic.
Nighthawk: Iron Man
Based mostly on their first appearance, where this rich industrialist provided the Squadron with a meeting place (very like the Avengers Mansion)
Power Princess: Inhuman
No specific Inhuman, although it might be interesting to see a Zarda in the Marvel Universe with her powers (or a less lucky draw with the Terrigen Mists)
After World War II, her Utopia Isle blasted off from the Atlantic, not for the Himilayas, but for outer space.
Amphibian: Namor
I don't know if Amphibian came from a race of Atlanteans, but the powers match as closely as with Aquaman
Whizzer: Whizzer, Quicksilver
A WW II comic hero named the Whizzer. When Gruenwald had our Whizzer unmasked (was he the first to do so?) He had him drawn with snow-white hair like Quicksilver
Golden Archer: Hawkeye
When first created, he was using this name (Hawkeye was then going by the name Goliath)
Skrull
A green, alien shapeshifter, what can you say?
Master Menace: Doctor Doom
With his own country (rather than planet) and power armor, some say this is a closer match than with Lex Luthor. (Although Luthor also wore a power suit around this time.)
Professor Imam: Doctor Strange
The Wizard Supreme of his dimension.
(I wonder if the name came from Iam, a mystic in old Orphan Annie comic strips)
Scarlet Centurion: Kang the Conqueror
Actually said to be an alternate version of Kang
Ape X: Professor X
Gruenwald expected the obvious parallels of a mutant G. Superior in a wheelchair would allow him to get away with the pun of calling her the "apex" of evolution.
LampreyRogue, Super-Adaptoid, Mimic
although if I remember, only Rogue "took" others' powers. In Quasar, Mark Gruenwald wrote the Absorbing Man as enjoying the same type of "rush" when absosrbing the Quantum Bands' properties
Thermite: combo of Human Torch and Iceman

Versus

Which characters from the Marvel Universe did the Squadders fight?

I'll tabulate them on their own page.

Did DC ever get Revenge for the Squadron Supreme?