I would have more than anything else relished at the prospect of SM Orochimaru and SM Kabuto collaborating as a team against Naruto and Sasuke. Both sides hold a unique relationship with the other. Orochimaru was once the personal mentor of Sasuke and the impetus that first compelled him to abandon Konoha. Had it not been for him events would be significantly different than what they are now. Sasuke may hold some embittered thoughts against Orochimaru as he has incessantly attempted to overcome his mind and his motives represent a form of opposition against the Uchiha Clan as a whole. If his insatiable thirst for bloodshed has maintained itself throughout these moral epiphanies then he will undoubtedly want to kill Orochimaru for the final time; if nothing else it would be to destroy an inevitable threat that impedes the aspirations of Itachi.
As for Kabuto and Naruto, well in many respects they are dualistic equivalents to each other. One followed the path of light and benevolence alongside a mentor from the three Sannin in effort to become more powerful so that they could acquire the acknowledgement of those around him whilst the other was inveigled by the hope of finding his own identity. Over time as they matured into capable fighters they begin to mimic their respective mentors. The one difference Sasuke and Kabuto is that the former only perceived Orochimaru as a means to an end; he achieved the strength necessary to complete his personal quest and then had forsaken him. Kabuto, whilst he did acquire the strength of Orochimaru's techniques and fighting style, also sought to emulate his ideals and motivations but not without having an ulterior intention of his own. This is but another similarity that Kabuto shares with Naruto. Naruto also wished to inherit the ideology and ambitions of his teacher; he believed that Jiraiya was a gallant and righteous man (aside from being a sexual deviant). Not only did they become actual successors to their respective teachers but they also mastered the sage techniques which the Sannin were only able to imperfectly use.
Then we come to Naruto and Kabuto's direct relationship with each other. Naruto was betrayed by this man after believing him to be compani and he perceives him as being another person who was enticed by Orochimaru. Much of the interaction between these two characters is started by Kabuto. I always thought it was very interesting how he developed this oddly debauched admiration for Naruto and his principles of perseverance against adversity. The fact that he experienced similar shortcomings relating to their lack of a personal identity at first does make Kabuto a parallel to Naruto but he never did fall into either extremity on the moral or political compass like Gaara (originally an indiscriminate, murderous child who found great pleasure in the deaths of other) or Nagato (wanted to subjugate the world using what basically equates to the MAD concept) at least not at first. His actions and motives were ambiguous, he would assist either side as long as it assisted his own personal motivations though his respect for Orochimaru was genuine. You could see this moral fluctuation several times throughout the manga like when Kabuto, seemingly going against the ambitions of Orochimaru, was going to murder Sasuke as he recuperated or when he healed an unconscious Hinata at the Chunin Exams stadium despite it being unnecessary to Orochimaru's mission. It was that unpredictability in what Kabuto would do next that distinguished him from other antagonists. Yes, Sasuke experienced similar things but his motivations were always concentrated on a specific person or group (at least until recently). Kabuto's motivations were as undefined as his actions.
Apprentice against apprentice. That is what I want to see between Naruto and Kabuto. Their relationship with each other was always erratic but Kabuto did assist Naruto as often as he attempted to harm him. Unlike other antagonists such as Pain (initially before Naruto began to influence him) Kabuto appeared to be interested in the person rather than the beast inside him for much of the manga. So much so that he emulated Naruto to create this monstrous reptilian creature from his own body. It shows a level of twisted dedication which I can't help but become fascinated with. How far will this man will push the boundaries of human pertinacity in order to achieve his objectives? What exactly is it that causes him to be attracted to Naruto to the degree which he has offered to spare his life during battle so that he can achieve his dream of Hokageship? Does he see himself in Naruto? Is that why he appears to hold this subconscious desire to see Naruto succeed?
I would have enjoyed seeing how Naruto would react to hearing Kabuto's tale about his past. If anyone could/should relate to him it would be Naruto and it honestly did appear to be that Kishi was putting things into place for another confrontation between the two of them but that wasn't the situation. It's quite sad actually because Kabuto assigned so much effort into his ambitions. But perhaps he may not be converted entirely, similar to Sasuke. Even if Kabuto acknowledges the will of Izanami to prevent him from becoming a replica of Orochimaru that shouldn't remove the connection he shares to Naruto or his precepts. Furthermore, his loyalty to Orochimaru would remain there. Kabuto promised that he would eventually battle Naruto in a symbolical clashing of personal achievement and to assess who's newly acquired identity is the superior one. I continue to hope that that may still be possible. SM Naruto vs SM Kabuto holds so much weight IMO that it would be a shame if it never occurred. To me personally it holds more significance than Naruto vs Sasuke even.
Sorry for going off like that. Anyway, Orochimaru is acting out of personal necessity. He can't possibly hope to defeat Sasuke in his present condition so he needs to acquire as much strength as he possibly can. This "alliance" that he is part of is a product of convenience so that he is not murdered whilst actively attempting to consume Sasuke. He is no more an anti-hero than Taka was an actual part of Akatsuki's group instead of being affiliates seeking to use others for their own benefit. It's possible that he may revive Jiraiya but how would that assist Orochimaru in achieving immortality or ultimate knowledge? Jiraiya under the effects of Edo Tensei would be without many of his most powerful abilities as I sincerely doubt the frogs would consciously choose to help him and without them he can't even access Sage Mode/Hermit Mode. His revival and comprehension of just how far Naruto has come would hold symbolical importance to the Sannin vs new generation issue but it isn't as if he would pose much of a threat in an altercation with what abilities he has shown. It is something to think about though.
I would prefer Sakura and Naruto vs Orochimaru and Kabuto and this isn't because of pairing or anyting its because Kabuto called Sakura "dead weight" and such so many times It would only be better for her to show him who is dead weight or a burden.