Not a chance, Pain and Konan would get raped. Is this battle pre- sound invasion?
If it is then they still have Hiruzen also and if it isn't then they have Tsunade.
People are overrating Nagato hardcore, he can take on people yes but Jiraiya pushed him further than anyone else until Naruto and Jiraiya was ambushed by Konan.
Had he fought all of the Pain bodies at once then he might have been able to get all of them in his sound genjutsu with Ma and Pa. Plus Naruto didn't have control of the fox then so if he got mad then he would have gone into his tailed mode faster thus wrecking Pain's world. And then if he did get to nine-tails then his Minato would have been there to fix the seal thus saving Naruto after he whoops up on Pain in his 6 or eight tails mode.
And I don't know if anyone remembers this but Jiraiya made Konan look like an idiot and would have killed her in like one minute had Pain not showed up. Konan loses easy to a whole bunch of people, Tsunade, Guy, Kakashi, Jiraiya, maybe Asuma, maybe Kurenai, maybe the Ino-Shika-Chou elder trio. Either way she goes out without taking on out many people if any
You guys are way underrating the superiority in numbers and skill Konoha has at there disposal.