There can be little doubt that CVA-01 with her airgroup would have been a quantum leap over anything that Invincible and Hermes could do.
Strike:
The buccaneer could operate deep strike missions over the islands and onto the mainland if necessary. Although this could be achieved from beyond the range of the Arg air force.
Defence:
F4 supersonic, with medium range missiles and multiple AIM-9s, so far more combat persistence then the Shar.
All of the above would be suported by the Gannet. No no surprise packages coming over the horizon at you.
I don't think the Args would have had a go if we still had the old Ark let alone CVA-01.