They used to have a great record against Real. That flipped fairly recently. I think City will beat Real. Bayern could beat either of them - I just don't rate Kompany. Living here in Berlin, I see a lot of German football and Bayern have, through no fault of their own, basically rigged the league in their favour. They have been tremendously well run since the day Uli Hoeneß cleared all of their debts in 1984 by selling Karl-Heinz Rummenigge to Inter for more than the 4 million GBP that was officially announced... He then bought Lothar Matthäus and Bayern have been in clover since.
But they get no test in the otherwise superb Bundesliga. That comes in Europe. To be fair, Bayern tend to recognise this themselves. Felix Magath won two doubles in a row in the late noughties and was still sacked for failing in Europe. The season starts next round for Bayern...