Spoiler 436

Inoichi thinks there is a high possibility that Pain is on some high mountain in Konoha.
(because it would make the chakra transfer easier)
Then it's all conservation between Naruto and Tendou.

Pain wishes for peace and justice.
Naruto wishes for peace and justice.
Both have the same target but different means to achieve it.

Finally, the real body Nagato is shown.
Following is the spoiler writer's opinion:
He looks like a skinny Orochimaru, sitting on some four-legged, wheelchair-like thing.
There are a lot of black rods piercing out from his back and his body has a lot of holes/pits.
Konan: Nagato had used up too much chakra.
Nagato, with his mouth bleeding: Peace will arrive soon.

End

rans By Hatifnatten on Nf

well, in this spoiler Pain talks about peace, pain, world etc. (his usual stuff).
Naruto looks into his eyes and transfered outside konoha.
It seems pain showing some stuff to him. Landlord with rinnegan, some slaughter.
Pain: "That's an answer. That's..."
Naruto: "Are you kiddin'? You call that peace?".
Ino's dad says Pain is probably on top of a mountain near Konoha, so as to transmit chakra better.
Naruto and Pain continue their conversation

What Nagato wants is peace and justice
What Naruto wants is peace and justice

So they want to go to the same place, they are just using different means

(Lots of talking, don't have time to write, wait for ohana to give the rest)

We finally get to see Nagato.
He looks like a greedy Orochimaru (looks like Kishi has too few different characters)
He's in a kind of wheelchair moving on all fours
He's got lots of rods in his back, and holes here and there on his body

Konan: You're using too much chakra
Nagato's bleeding from the mouth
Nagato: Peace is so close...
END

Quick Trans from Chinese by a friend of mine:
Ino's father thinks Nagato is on Top of *some* Mountain near Konoha.
Because you can send Signals fast from that location.
Naruto wants peace and justice.
Nagato wants peace and justice in another way.
Nagato used alot of Chakra and his mouth is bleeding. He might get peace soon (or something like that).
The Chance to find Nagato in Konoha Mountain is very high.
*some random remarks about Author/Kishi*

Spoiler:
Ino dad: I know! Where Pain's real body is!
Shikamaru: Did you get something?
Ino: What do you mean?
Ino dad: Yeah... When I looked in the head of that guy from hidden rain that Jiraiya-sama caught, he was carrying dead bodies with his friend from the village

(man: we're carrying dead bodies to the highest tower of the village. You know what is in there?)

Shikamaru: Carrying dead bodies?
Ino dad: Yes... You said it yourself earlier, in order to transmit the chakra signals, the receiver should logically be nearby. then... that guy said that among all the towers in hidden rain, it was the tallest tower they were carrying dead bodies to

(Dead body guy: Actually... The rumor is that Pain-sama is dwelling there)

Ino dad: In hidden rain, the rumor is that Pain was inside of that tallest tower. Then that girl appeared as Pain... It was the same girl whose dead body was being carried to that tall tower... It would mean that this tower is the place where they create Pain bodies by embedding those black stakes-like receivers into dead bodies
Shikamaru: So what is the connection with the position of the real body?
Ino dad: To transmit the chakra signals, the most efficient place is... To transmit as far away as possible, he had to be in the tallest tower
Anbu: I see... which means
Ino dad: Pain's real body is on the highest place of Konoha...
Shikamaru: All right! Let's investigate thoroughly tall places

437: What will Naruto do after listening to Pain!? Next, rapid development!!
END