I for one believe that Sasuke has an advantage over Pain. Sure, Sasuke won't win easily against Pain that's the truth to it. People need to remember that Sasuke's arsenal meets the criteria to hit in the 5-second interval. Deva Path and Preta Path are the most deadliest paths for Sasuke to defeat. Mainly because Preta Path can absorb chakra. While, Deva Path is able to repel Sasuke's attacks with ST. Sasuke struggles in harming the paths due to the fact that Deva can push the flames away. Which is good for Sasuke to use Amaterasu in a way just to decrease the enemies he's fighting at once. Sasuke can later on pierce the paths coated in the flames. Sasuke can also just go ahead and attack the other paths.
All the paths suffer from genjutsu drawbacks. Sasuke EMS genjutsu which hasn't been shown enough in the manga could easily be on par with Itachi. Also adding the fact that Sasuke's genjutsu seems to have an effect on a reality sense. Itachi's genjutsu affects you in a dreamlike state. Sasuke doesn't need to wait on ma or pa to unleash genjutsu on the paths.
Sasuke's piercing Susanoo attacks can be proven hard to stop for Preta Path. The fact is that even if Preta Path can absorb one. How will Preta absorb multiples arrows? I see it struggling against one or two. I don't see Preta absorbing attacks for too long. Unless Deva decides to protect Preta Path from the incoming arrows that's the only way i see Preta surviving.
The only dangerous attack that i see Sasuke struggling against is CT. Only because as others have proven it takes a lot of fire power to destroy. So this is the only way that i can see Sasuke losing against Pain. Although it takes time for Pain to unleash the attacks. Sasuke best bet is to stop Pain before he manages to commence the attack. Otherwise, Sasuke better fly away from the scene. Overall this fight could end in both ways, but i see Sasuke taking it for now.