It's the perfect comparison in almost every way since the Gear 5 draw backs (down time/exhaustion) are very reminiscent of what Gear 3 was at the time. Only the danger posed by Gear 5 to the Lucci of right now is probably far greater than the Gear 3 was for Lucci back then, mostly on a basis of the sheer amount of attacks and different attack angles Luffy can theoretically introduce with these new powers. Like, if Luffy can turn the floor into a rubber like substance that starts to shoot out CoC coated fists, it sounds a lot more dangerous to me. The benefit of awakening too (in that case) is it accomplishes what Logia users do without spreading out the body of the user to make a bigger target.
There are questions by some however, regarding Luffy's change of character when he is in that mode, whether it inhibits him to a degree... but given that he called it "My Peak", I am not sure if that is as big a deal as some think.
But then, there is still the same question