I'd say for modest-to-slow marathon runners it would be increasingly more fatiguing to do a marathon the slower they are, as they are fighting gravity on asphalt/concrete and are possibly heavier than your elites and not as smooth a runner...racing a century on a bike, you are still riding with some potential for coasting and not fighting gravity/asphalt quite the same.
The ironman uses 112 miles or 180kms - I assume because they felt that the distance compared to running 26.2 miles or 42.195kms. Perhaps for fuel as well as cardio vascular effort, they are comparable, but for straight up specific muscle damage/fatigue in the specific muscles and of course recovery - the marathon is tougher. The load in the lower leg is the entire weight of the person with 2 to 4 times the body weight for every foot strike. Whereas on a bike, the load is dispersed: legs, butt and a small amount to the arms. Shifting position while riding can relieve a lot of stress, say for climbing for example.
My own experience easily favours the marathon as tougher. For example, each of my modest marathons sub-3:07 nine times, I faded (poor training?) and the next day had trouble with stairs.
I rode my first 150km race last summer, plus 5k ride from car each way, so a total of 160kms - almost 100 miles and I rode the next day. I also wasn't mired in swamp funk the next day either.
The training for most of the marathons was an average of about 12 weeks at roughly 65 miles per week with long runs of typically 20 to 23 miles. I ran 6 to 10 times per week.
Training for the race last summer, I might have rode twice per week or sometimes a third ride per week for 12 or perhaps 15 weeks - I didn't keep track.
In short I trained more (relation to the sport) for the marathons, but found the cycling MUCH easier.
On the other hand if a 2:10 or better marathon runner raced the bike, perhaps the efforts would be closer together, as mentioned above, they typically are smoother runners with less weight and are clearly more fit. Spending 2:10 racing is a lot less time than your average runner.