While I won't address Mike's obvious excellent drumming ability, I will say that his resemblance to Peart only goes as far as being an excellent drumme r in a prog band. Peart is as much a perfectionist as any out there, but his way of dealing with adversity is the opposite of Portnoy's (as in NOT having curse-laden meltdowns). He's also shy and avoids making himself a spectacle... which is of course also the opposite of Portnoy's attention-whore, ranting style.
I don't dislike Portnoy as much as most here (and elsewhere), and at times I find myself not always liking Peart (I own all of his books). But he's a class act. Portnoy will doubtful ever be accused of being that.