the Sandaime chose the Yondaime instead of Orochimaru to be Hokage because he did not want to totally perfect himself as being the strongest person/able to control the strongest person. by using this logic, Orochimaru would never have been able to join Akatsuki because the Yondaime would never have allowed someone who wished to kill him into the group. In both the manga and anime, it specifically says that the jutsu TAKES THE USERS LIFE!

and to reiterate it "And from there, the rest of your ideas fall to pieces like a set of dominos."
thanks hopeknight for that wonderful quote