I shall now quote something someone said in the Wikipedia Talk page about the Akatsuki Page. :/
"Alright, I'll clear this up for the people who are clueless as to Japanese. I am no expert, but I am taking the JLPT and I have studied Japanese and act as an amateur translator. What Tobi says exactly is:「写輪眼の本当の力が・・・このうちはマダラの力が 」Which in roumaji transliterates to "Sharingan no hontou no chikara ga...kono Uchiha Madara no chikara ga." Which in English literally means: "The Sharingan's true power...this/that, Uchiha Madara's power." Now, I and other amateur translators suggested on the forums where this Japanese was discussed that it meant he was referring to the "power of Uchiha Madara" which meant the Sharingan or something like that. However, expert translators and native Japanese have said that the "kono" which is usually used as a demonstrative adjective for "this/that (object)" is used sort of as a pronoun in reference to himself (a supervillain way, some translators said as when Zabuza said "Kono Momochi Zabuza" to refer to say "I am Momochi Zabuza"wink and his power. And the translation has been looked at over and over again by experts in Japanese and that seems to be the general consensus. So, wisen up and accept the translation!"
^ yea people on NarutoFan have been discussing those last words of Tobi to death. So far all the translators have confirmed that Tobi was referring to himself as Uchiha Madara. Even the translator that came up with the translation that confused a lot of people admitted that he was referring to himself.
In light of the new chapters online, I find I rather...like the idea of Tobi as the true leader. It also is believable, if completely unexpected!
I also like that it looks from that like Tobi almost has two vastly different "personalities". One being the formal-speaking, goofy "good boy" who wanted to please everyone around him, and the other the rather arrogant, sharingan wielding "Uchiha Madara"
With Tobi pulling the strings from the background while there's a Figurehead leader it leaves him open to be amongst the Akatsuki on a lower level, gathering information or simply learning.
Mmm...once again if I'm reiterating anything that's been said. I'm new to the thread.