The Land of the Shinobi is a tumultuous one. It starts with the Sage of the Six Paths, having sealed away the Jubi, the Ten Tailed beast that, supposedly, had a body large enough to form the Moon.
From there, the shinobi world was formed, becoming an unstable place where wars were fought and hatred abounded, all revolving around the Sage's two sons. The one that inherited his hope, and the one who was cursed with his hate. These two sons were destined to fight as the dual clans of Senju and Uchiha, time and again, descendants repeating the battle over and over…
Years later, Naruto is born, on the exact day a piece of the Jubi is used to attack Konoha. He's born and has the Kyuubi sealed within him, his parents dying in the process. He grew up to become a mischievous brat, and then a genin, when he was graduated to everyone's surprise. The failure outcast wasn't a failure anymore.
Team 7 went through their adventures, fighting opponents in several forms. Sasuke became darkened by the slaughter of his family, the taunting of his brother, and the temptation of Orochimaru's promise of power. Naruto grew stronger, wanting to surpass Sasuke, growing anger over the pride and agony Sasuke would show, the rivalry never quite harmless.
And then Sasuke left…
Naruto fell under Jiraiya's training, returning a long time after. He even goes on to learn the Sage Arts after Jiraiya's demise, to honor his master, and defeat the one reponsible; Pain. The climactic battle tore apart Konoha.
Naruto then learned to conquer the Kyuubi with the help of Killer Bee.
In this iteration, the Tailed Beasts are a bit harder to hold down with simple seals, taking on a more monstrous nature. They tend to inflict curses on their enemies, or do other nasty things, and have access to powers beyond those of simple shinobi of their world. Otherwise, they're very much the same monsters.