Tbh Itachi is incredibly fast and versatile in how he can dispose of the Pein’s. He has the toolkit to take Pein down in an ideal battle. It’s definitely close.

What makes me put Itachi > Pein is the fact Zetsu has multiple freak outs over an underperforming Itachi and calls him invincible, not an hour after seeing Jiraiya’s fight against Pein.
Depends how Itachi starts the fight. If he can dispose of the revive + ninjutsu absorbing pain he has a good shot with Genjutsu.
 
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