No no, the fighting style won't help to counter ninjutsu, like say Sasuke's fire techniques. Not directly anyway. It's mainly for what happens when hand to hand combat is occuring. However, the Sharingan doesn't provide that functionality either. At best it can be used to read the seals and get a general idea of the technique you're about to face. Though, if the sage techniques I'm talking about get implemented, or something similar to it, I can imagine that a sage technique user would be able to sense the chakra being molded as the seals are made, and thus get the same kind of info, if not better, that sharingan seal reading would give.
Also, about the flash bombing a sharingan user's eyes, Naruto also used the principle to his advantage on the rooftop fight. After directly confronting Sasuke in a taijutsu fight and getting owned, he stealthily made his way to the big water container, with the sun behind him, and waited for Sasuke to be blinded by it before he made his attack, which worked. So yeah, the idea's been used a bit actually, but definitely, if you know you're about to fight Sasuke, ffs bring flashbombs.
@abdula: Lol. I just don't have the hate for Naruto that you seem to. I hate Sasuke and Naruto about the same, but for different reasons. Naruto's a badly written character. I liked his development up to and including the Gaara fight, and am hoping with Shippuuden, Kishi takes it back to that quality of development. He's at least fucked up with the pacing though, even if his ideas are ultimately good. We'll see how this goes.
Grrr...Originally tried posting this in quick reply, but I hit something that sent me to the Open Discussions page, and I lost the post :-(