
In an engagement, an F-16 block 40 or higher would win for sure. The reason being the SD-10 is semi-active. Now, if the PL-12 ( I'd like to call it the AMRAAMLing, and yes, I'm trademarking the term. ) ever gets into production or if AA-12-carrying capability is added to the JF-17, that could be a different story.
The JF-17 is meant to be in the same class as the F-5 anyway. The real perk for Pakistan is that they get the know-how of the whole process of designing, manufacturing and testing an aircraft. They also get to assemble half of their order IIRC.