My conclusion is this: If Itachi was alive and on the current battlefield, he would be the second smartest person there, the smartest being Madara. And the other conclusion is that Itachi would be to smart to fight Madara, NOT A COWARD, just to smart to fight knowing he would lose. There is no honor in fighting someone that you know will defeat you, that's called stupidity.
Instead Itachi would have retreated and devised an intricate grand plan on how to use his own Tsukuyomi to somehow influence the IT that Madara casts. Even if it would have taken him 20 years to develop a counter jutsu, thats what he would have done. Going head on against Madara like all the fools are doing on the battlefield is just ridiculous. Any General or war strategist that has ever seen a real battle would tell you that retreat is one of the most powerfull decisions you can take.
It's a shame that Itachi is dead, beacause he is the only person who in the long run could have stopped Madara.
Instead we will get an overpowered Naruto in the next chapters going head on against Madara, thats boring, i wish the Manga was a bit smarter.
Oh well, really looking forward to Nardo getting yet another mega-upgrade, never seen that before...