I myself still believe that Nagato could absorb the chakra sword swungs. Fujutsu: Kyuin if you think about it also stopping the momentum of the attacks. This can be seen when he absorb V2 chakra. We didn't saw him injured (or crumbling at that moment). This happens because one the jutsu is actives it would start draining chakra, he can just absorb the sword surface that is about to hit him, doing this would make it easier as the sword technically would be "cut" in a half and disperse. Also common thought told me that while the sword is absorb it will make the sword somewhat "malleable" because of the disturbance that happen on the circulate chakra. If this happens than the second sword swung would also be meaningless cause Fujutsu: Kyuin is still actives. And Nagato was also sensor. That would help him react better
I'm basically d'accord with everything you said. Fujutsu: Kyuin is stopping the momentum indeed - but only to some extent. As I explained
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, the absorbation-barrier can be broken if the impact is strong enough.
Now, Nagato was able to stop the impact of Bee's lariat - but that cannot be compared to the sword. Its size is imane, meaning that just its weight will pressurize Nagato. A single, one-handed swung of it crushed a meteorite and cut two distant mountains without actually touching them - that's one hell of an impact. It's very unlikely that Fujutsu: Kyuin's human-sized absorbation-barrier will just stop the momentum of such an attack. Even if the impact would be damped, the shockwave - which cannot be absorbed - would rain down on Nagato. And since the sword is, unlike Rasen Shuriken, not thrown, Susanoo can
constantly exert pressure on it. Taking all that into consideration, the sword would most likely crush Nagato right through Fujutsu: Kyuin if he was to try absorbing it. There's also the second sword, that could attack Nagato while he's focused on absorbing the first one (if at all) - it's obvious that he couldn't absorb it as easily as Naruto's Rasengan.
So, that being said, Nagato's Preta path would be a rather unwise defense. As for Shinra Tensei, if you read my previous posts you already know what's my opinion on that matter. A normal Shinra Tensei would be not enough to fend off the sword itself. Susanoo's strength is imane, and just like Kyuubi's six tailed cloak was giving constant resistance to it, Susanoo could do the same. Indeed, Nagato's techniques are stronger than those of Pain, but in return Susanoo's strength exceeds that of Kyuubi's six tailed cloak by far, too. Shinra could block the shockwave, but there's still the second sword and the interval that restricts Nagato from using Shinra Tensei continuously. Since I'm just repeating myself, I hope you bring up some new arguments.
Nagato's best way of defending against it would be trying to dodge it and/or pushing Susanoo out if his range with a huge-scaled Shinra Tensei, and thereupon summoning Gedo Mazo or some of his animals to distract it.
And Nagato's near-zero-chakra Shinra Tensei sent KM Naruto
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Even near-zero chakra Nagato > Pain
Sorry, where was it said that Nagato's Chakra was low or even near zero? His body's weakened state is no proof of being out of Chakra, since it was like that all the time he was controlling Pain.