Re: Madaras dead, but lives on!
I don't think what you have writen here is true, but it does seem to fit in many areas.
I think Madara is imortal due to him gaining the EMS, and just to keep it clear; I do beleive that Tobi/Madara can be killed. It is like the "Highlander" your imortal until someone takes your head, but in this case until someone kills you. Nothing natural can kill him. It so happens that he lived through the fight with the First Hokage.
Ok, I like the idea of him having trouble with the amount of chakra it could take to use such powerful eyes. < Yet that use of chakra has to count only torwards the MS. I can't think of the time where it was said that he was unable to "Keep it up". Can you show me a chapter where this was said?
Now I still find it hard to swollow that it isn't Madara. Everyone seems to focus on the "One Eye" deal. Your saying that Madara gave one eye to someone? It could be said that during the Nine Tails attack he lost the left eye. It could have been something with the Forth, or the Nine Tails lashed back at him. (The deal with the Nine tails still has me thinking that SG can't control a Tailed beast)
"Never go back on your word... and never give up, no matter how bad it gets. That's your Ninja way."