Jiraiya, in my opinion, definitely deserves to be there. If you take a look at the manga, one of the recurring themes ever since pain is just how powerful sage jutsu is. Jiraiya has tons of expirience with it, and he seems to be second only to Naruto with it use. Also note that Tobirama is not number 4, rather he could be anywhere between 4-6. I based that off of his intellect, speed, and expirience.
I did forget Hiruzen though, if I think about it, I might have him bump orochimaru down one slot, and have Hiruzen at 9.. Maybe, I'm iffy on that. I'm also iffy on Kabuto being over orochimaru as well...
Tsunade is 3, she can't be liked by any of them. I'd put Sasukes n Naruto above her just because, Sakura is under her, though regeneration wasn't shown, but soon enought he'll be number 1 along with her team mates
Naruto
Sasuke
Tobirama/Minato
Tobirama/Minato
Gai
Kakashi/Itachi
Kakashi/Itachi
Jiraiya/Tsunade/Orochimaru
Jiraiya/Tsunade/Orochimaru
Jiraiya/Tsunade/Orochimaru
It's terrible. Especially because current Sasuke would lose to Itachi for one simple reason; he's not as smart (clearly seen when they fought Kabutomaru).