This is the translation by Gottheim, a very good translator.
Kisame: You should be able to take him down one one way or another, but I don't know how I'd fare.../We aren't in the same league. Itachi: Yeah...If we face him, the both of us might get killled./Or we'll pull off a mutual strike down if we do well./...Even coming in greater numbers might not make much of a change. Kisame: We thought we'd finally found him at the ramen shop... But his baby-sitter just had to be one of the Legendary Sannin./Even the names of Konoha's Uchiha clan and that of the Seven Shinobi Swordsmen of the Mist pale before an adversary like him. Itachi: True... But.... Kisame: ....... Itachi: No matter how strong someone is, they'll have some kind of weakness....
Basically, Kisame and Itachi were talking about Naruto not Jiraiya.
There are more translators who seemed to agree on this. --TekkenStorm (talk) 23:51, January 8, 2010 (UTC)