Naruto would be Nathan. Sasuke would be Sam, and have a french accent. Sakura would be Sarah, a typical teen girl.
Kakashi would be Karate Karl, and be a total surfer dude, brah. Gai would be Mighty Guy. Neji would be Nigel, and speak with a british accent. Hinata would be Hana.
Itachi didn't kill the clan; he sent them to the Shadow Realm. The Kamui dimension will also be called the shadow Realm, but no one will attempt to ask if the Uchiha Clan is stuck in there. Minato (Named Mike) summoned Exodia the Forbidden One in order to seal the Nine Tailed Fox. Jiraiya would be named Jim, and works as a Janitor at the Hot springs, writing a comedy book series entitled "Knock-Knock Paradise".
Orochimaru would be either Steve Viper or Orchimura. He would speak INCREDIBLY Flamboyantly. Imagine Pegasus from Yugioh, and multiply that by infinity. Kabuto would be named Carlos. Sasuke doesnt want to kill Itachi, only defeat him.
A lot more I can add to this...me and my friends were actually starting a little project to make a 4Kids ran Naruto.