AKA the 4th Hokage.
We finally know his name.
We also know that he is Naruto's father. So all the people who couldn't see the obvious resemblance--LOLZ. Also, as a bonus, we learn about Naruto's mother, a kunoichi from the Whirlpool Country. Apparently, he takes more after her than he does his dad.
Oh, and the Uchiha brothers have finally met up. Sasuke is still full of himself. He's more powerful, I'll give him that, but one of my biggest beefs with Sasuke is he's a dickhead who doesn't learn from his mistakes. He's gone and stuffed himself full of Orochimaru's power, now he seems to think Itachi will be a breeze to kill.
I'm hoping the little brat gets clobbered, not that it will do him any good. It's too much to hope for that Itachi will just outright kill him so we can all move on with the story. * sigh * In my wildest dreams, Itachi would pound his little brother into the ground, then reveal that it was actually Orochimaru who did the killing of the Uchiha clan in Konoha, not Itachi himself. That would make my day--perhaps my entire week.
Of course, those are just dreams. It never hurts to wish, though.
And if the entire conversation between Jiraiya and Tsunade wasn't a set up for character death, I don't know what is. I actually got a little teary eyed reading the end of this chapter. Kishimoto isn't afraid to kill off his characters, the Third Hokage, Asuma, the sound nin elite crew, Kimimaru, to name a few. Naruto has yet to lose someone close to him to death. The death of the Third was traumatic, but they didn't share the same relationship Naruto and Jiraiya share. I think the death of that perverted sage will be poor Naruto's undoing.
I really hope it doesn't happen, because I really like Jiraiya and I don't want to cry over a stupid comic book. That, and who will finish the Make-Out Paradise series?

(Tsunade recalls the 4th Hokage, Namikaze Minato 波風ミナト)

(アレは母親似だからな Naruto seems to be more like his mother)

(うずまきクシナ Uzumaki Kushina. Naruto's mom. Apparently, she was a lound mouthed tomboy. まるで男の子のようだったのー lol)