Being chosen as Hokage, has more to do with than raw combat strength. As i said before Oro, Jiraiya were almost undoubted stronger in raw combat power than the 4th. but they lacked the required character to be Hokage. for isntance no one could defeat Kyubi- he was just too strong. the 4th realized the only thing that could be done would be to imprison/Seal him unfortunately the only sealing method strong enough to contain the kyubi was one that was going to cost the 4th his life...but knowing this did not stop him from performing it. Oro, would never have gone out for the village, and Jiraiya although he has noble intension probubly would not have thought to use a self sacrificing Seal- from what i am gatheringhe is too much like Naruto to go out and "give up" by using a move like that.


Being chosen for hokage is a lot like being chosen as chunnin. look at Shikimaru home dude is down to take one for the team and the village( yes Naruto too but he would try to fight to the end, where as Shikimaru would just realize the end ) No Shikimaru by far does not have the hghest raw combat strength, he has lowest chakra, and only one offensive jusu thus far- but he is a super genious that is cunning and comepltely attentive of the team and goal. making him an excellent leader.

I imagine the 4th was much the same very compasionante and strong ehough to be called hokage but not necessarily the monster Itachi, or any of the 3 are.