I think despite the whole "I could save oro" stuff, Jiraya was all around stronger than Oro. Oro got solo's instantly buy Itachi. Itachi knew he probalby couldn't beat Jiraiya even with Kisame's help shows me that saw him as more of threat than Oro. That and lasting against Pain who itachi couldn't even touch.
Speaking off, It would of been cool to see Edo Nagato vs Madara. I'm not convinced that So6PNaru and Sauce were stronger. So that fight would of been a lot more interesting.