Wow, there are some seriously thought out responses here. I hadn't even given notion to the possibility that the bloodlines could be recessive.
I truly and honestly believe that NaruSaku would get the better ENDING child. Not necessarily one born as the strongest, but one that would become such.
NaruHinaI've seen many arguments for the child of NaruHina over on the NF boards. Obviously the biggest advantage given would be the Byakugan. However, I am pretty confident that the Hyuuga clan inbreeds, considering that every Hyuuga that I have actually seen possesses the Byakugan. Meaning, if an outsider is brought into the clan via marriage, there should be AT LEAST one person there without the Byakugan. The Hyuuga clan also prides itself on being the best clan in Konoha, so even if they do allow outside marriages, the likelihood of someone being accepted is extremely low. Naruto, being as hated as he is for hosting the Kyuubi, would probably never be accepted.
Another thing brought up, is the idea that child of those two, will be able to learn Jyuuken. Which is fine, and Jyuuken is in fact, quite formidable in terms of the damage it can deal, and the accuracy with which it can strike.
Another big advantage the child would gain, is the enormous amount of chakra that Naruto has. I'm quite sure the advantages Naruto has gained from the Kyuubi, would be passed down genetically as his chakra and the Kyuubi's chakra intermingle. To that degree, it is quite possible his offspring would host dozens of times more chakra than a child born from someone else. However, it's also possible that the negatives (losing control of emotions = berserk) would be passed down as well. A gene for predisposed bloodlust I guess. Also, Naruto is quite intelligent when it comes to battles, so if that gets passed down, it's just adding to the child's advantages. It will be no Shikamaru, but it will be a child that could easily hold it's own.
Naruto also adds on a creative aspect to the child, if the child gains his personality. Nothing more creative than a former prankster. Unfortunately, adding on the shy and quiet personality of Hinata hinders the child. Especially if it gains the lack of confidence that Hinata seems to be trying to trump as of now.
Raising: In terms of being raised, I agree with narutokage in that the child will probably end up as an extreme of either Naruto or Hinata. Hinata lacks the confidence
as of now to really discipline her children, especially if Naruto gives them the OK to do something.
SasuSakuThe Sharingan is this child's greatest asset, but if the recessive trait mentioned earlier holds barring, then this child could also be ordinary. However, I'll look at it from the idea that the child is indeed born with the gene for the Sharingan. A tool accredited by many as "cheap". It can cast genjutsu, memorize ninjutsu, predict movements, and possibly even more things. Put simply, the Sharingan can almost do it all. This essentially gives the child insane advantages. Speeding up training being a large part of it. On top of that, predicting movements in battle puts you at an automatic advantage over your enemy.
Being a descendant of the Uchiha clan, it's safe to assume the child is already going to have a natural affinity to Katon (Fire), and a large possibility that the child will also have a second elemental affinity. This is also an advantage, as two is obviously better than one. To help with matters, Katon is quite a powerful affinity to have, as its offensive capabilities are quite high. Couple this with the chance that the child could have a second affinity to Doton (Earth), and the child can now take out the elemental weakness to his more offensive jutsus, while having a large amount of very capable defensive jutsus (opinion, but so far Doton shows the greatest defensive capabilities to me).
Then we bring in the Sakura side to it. Sakura is a genius, and while it isn't proven that intelligence is hereditary, you can tend to find that it does seem to "run in the family". So a child of a genius clan, then possibly garnering genius intelligence from the mother. Quite a force to be reckoned with. Add in the fact that she could teach the child medical ninjtusu and chakra enhanced battling, and this kid is going to be creating new landscapes fast.
Also, Sasuke is a definite genius when it comes to battles. This puts the child's intelligence even higher, and makes for quick thinking while in combat.
In terms of personality, this child too, will probably be an extreme of either Sasuke or Sakura, purely because their personalities do not mix at all. The only personality I know the child would have for sure, is seriousness, as both parents have that trait.
Raising: Sasuke seems almost too indifferent to me, to be any good with raising his children. The way I've always seen him towards his children, is in a similar way to how his father was to him. There, mildly supporting, but never really talking or being there for his child. However, if SasuSaku were to happen, there's a strong chance this part of Sasuke would go away, as I can't imagine it happening if he's still "cold to the touch". Sakura, to me, seems that she would end up in much the same way as Shikamaru's mother. A bossy, demanding, and disciplining woman. However, Sakura also has a kind and gentle side of her, and that would help tremendously in the upbringing of the child. Especially since a child with no love, often ends up bad (excluding Naruto...he's just...different).
NaruSakuNow, the biggest argument against this child is always that it has no Bloodline such as the Byakugan or the Sharingan. However, I don't exactly agree with that. It is quite possible that Naruto will pass down traits of the Kyuubi as a Bloodline to his children. Possible enough that I honestly believe he would. Now, considering that the Sharingan is apparently recessive, and there's no proof that the Byakugan is or is not dominant, this child could ACTUALLY be born as the strongest of the big three.
Again, we bring in the idea of the child being incredibly intelligent from Sakura's side. Couple that with Naruto's battle smarts, and his creativity, and we really have another Minato being born here. A child that can not only come up with interesting and creative ideas, but also the intelligence to take them all the way, in terms of creating jutsus.
I've already mentioned the Kyuubi genetics earlier:
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Another big advantage the child would gain, is the enormous amount of chakra that Naruto has. I'm quite sure the advantages Naruto has gained from the Kyuubi, would be passed down genetically as his chakra and the Kyuubi's chakra intermingle. To that degree, it is quite possible his offspring would host dozens of times more chakra than a child born from someone else. However, it's also possible that the negatives (losing control of emotions = berserk) would be passed down as well. A gene for predisposed bloodlust I guess.
Also, I bring up the fact that Sakura can teach her child medical ninjutsu/chakra enhanced strength again.
Personality wise, this is the only child I can't see going to either extreme. One reason being that both Naruto and Sakura have many similar traits. The other dealing with the child's raising, and will be mentioned next.
Raising: Naruto is going to smother his child with love, and spoil the sweet hell out of it. In the case of NaruHina, this is a bad thing, because the child grows up selfish, with nobody to correct him, unless Hinata changes. However, it's a great thing in the case of NaruSaku. Naruto gives the child plenty of love, letting him/her grow up knowing it, all the while Sakura will definitely stand up to Naruto, and will not only discipline the child, but also keep Naruto in line in terms of how much he spoils it. This creates a balancing effect. Love is given, but so is discipline, so that the doesn't child grows up pompous and selfish.
Against One AnotherThese text-based simulation fights are completely subjective to how I believe things can or can not be trumped. In the end though, I've just made them for fun.
NaruSaku
> NaruHina; This is based on if the NaruHina child had the Byakugan and had learned Jyuuken as I mentioned earlier. I see the NaruSaku child beating the NaruHina child because, while the Byakugan can see virtually 360 degree around you, it's a useless bloodline to have against being outwitted, considering one side has the Sakura portion. Close-range fighting could be the downfall to the NaruSaku child though.
NaruSaku > NaruHina; This is based on the NaruHina child not having the Byakugan. Without the Byakugan, I honestly do not see a contest, especially if the NaruSaku child does take in his creative and genius aspects of jutsu creation.
NaruSaku > SasuSaku; This one is based on the SasuSaku child having no Sharingan. While the child itself has many advantages still, losing the Sharingan really puts a hurt on the kid. While strategically, both are probably at a standstill (SasuSaku may have an advantage here), I can't see the SasuSaku child trumping the NaruSaku child's jutsu ingenuity. On top of that, gaining the near limitless stamina makes this battle's outcome one-sided as the fight progresses longer.
SasuSaku
> NaruSaku; This one is based on the SasuSaku child having the Sharingan. Now the Sharingan boosts the child's power exponentially. It is a truly terrifying bloodline limit to have. It could null out any jutsus the NaruSaku child may have. The reason I don't have the SasuSaku child being completely over, is because the near limitless stamina plays a very large role, and if the SasuSaku child can't finish it in a decent amount of time, there's a good chance the child will lose.
NaruHina
> SasuSaku; The NaruHina child has Byakugan and SasuSaku has no Sharingan. Again, being outwit would be the demise of the NaruHina child. Unfortunately for the SasuSaku child, the NaruHina child will also have near limitless stamina, and that would play a HUGE factor in this fight, especially coupling it with the Jyuuken moves.
SasuSaku > NaruHina; This is based upon the SasuSaku child having the Sharingan, and the NaruHina child having the Byakugan. The Sharingan would add too much power to the SasuSaku child. The near-limitless stamina is a slight saving grace for the NaruHina child, but the lack of Sakura intelligence makes this one kick the bucket.
SasuSaku > NaruHina; This is based on the NaruHina child having no Byakugan. There's no contest. Without the Byakugan, the child lost all insight into attacks, and will probably be trashed.
Ending to this. Well as you can see, NaruSaku (to me) wins it out in 3/4 of it's fights. Now, you may see that I said the SasuSaku child with the Sharingan would probably beat the NaruSaku child. This is correct, I do believe that. However, there is something to note here. The NaruSaku child remained the same for each simulation. The SasuSaku and NaruHina children did not, as they could, or could not have their respective bloodlines. That is why I rate NaruSaku's child as being the stronger in the end.
I know this is really long, but I love topics like this, and thought I'd share all my thoughts.