Help solve a geeky argument about Inception

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Obviously big spoilers.

Ok, so the argument is - how many levels down did Cobb go?

Me:

1. Reality
2. Van level (in the rain)
3. Hotel level
4. Snow level
5. Limbo (where he sends Fischer back, then goes to find Sato).

My thought is that Fischer and Sato died. Cobb goes back to limbo where he and Mal spent 50 years. He deals with the limbo ghost of Mal, sends Fischer back and finds Sato and they both return.

My Friend:

1. Reality
2. Van level (in the rain)
3. Hotel level
4. Snow level
5. Cobb's Dream (Where he sends Fischer back).
6. Limbo (where he finds Sato).

His thought is that Fischer didn't die - and Cobb brings them into his dream (which IS NOT limbo - even though he is in the same place that was limbo for him and Mal). He deals with Mal, sends Fischer back, then kills himself or something to go into real limbo and find Sato and return.

So, thoughts, ideas, facts?

Thanks guys.