It really is confusing. I will keep on believing that he is still alive but look over the facts of what is logically right.
Everyone says the 4th died in the incident with the Kyubi, using the Shiki Fuujin. Then Orochimaru summoned the 3 Caskets but the last one failed, summoning only 2 Hokages, when meaning to summon 3. However, like the 3rd said, the Shiki Fuujin locks your soul in forever combat INSIDE the Death God. Although the Edo Tensei Kuchiyose summoned their body, it probably summoned their souls as well because the First and Second Hokage recognized Sarutobi. And also, they show the Akatsuki leader's hair, which is blonde. So he can STILL be alive but he has been proven death indirectly and incorrectly. What would've happened if Sarutobi did not stop the 3rd casket from coming? I'm pretty sure the 4th, who mastered Shiki Fuujin, knew a way around it. My thoughts is that the 4th is the leader of Akatsuki but its like self contradicting with the facts I said... and if you say he is dead then it is yet again self contradicting as well...
Also, it's only logical that the 4th Hokage has perfected Shiki Fuujin because the 4th described the technique to the 3rd after having to use it. Sarutobi, however, told Oro that as soon as he used that technique he had already been fated to be dead. Yet, 4th used it and was able to describe it to the 3rd... Madd confusing. So this is a theory that supports that the 4th may still be alive.
What do you guys think?
In light of earlier complaints about titles being too descriptive here, I went ahead and renamed this thread. Personally if I wasn't a manga reader, I don't think I'd like to know that whether the 4th is alive or not is a current topic of conversation.