I have two Mystic Dream JPs sitting here, one's mine and one's my friends. I also have an '04 Jem that's rapidly approaching it's second birthday (my how time flies).
I love both guitars, but they are not even close to the same in terms of feel and tone. Totally different guitars. You might as well compare Jems and JS
First, the necks are similar in profile but feel totally different. Both play really well... "fast" necks you could say. The fret work on any EB I have ever seen is far and away better than the typical Ibanez fret job. My Jem has never had a fret level, but it could probably use one. The fret centers are always high on Ibanez guitars, which bugs me visually. The EB seems to be perfect. However, I enjoy playing both guitars equally as much. Both are a dream to play on.
As far as the tremolo goes, non-locking trems are a pain in the butt. I'll argue with anyone all day long about the supposed "time saving" aspects of non-locking tremolos. If you want it to work there is no such thing. They are more
time consuming that double-locking trems, if anything. Seems that whenever I argue this point on the EB forum the dissenters usually come clean and admit that they are just "moderate" tremolo users, using the bar for "shimmering" vibrato and the like.
If you actually use
the bar on the JP you'll need to do a few things to keep it working properly. However, once you do the simple things like lubricating the bridge saddles (if necessary) and the get the nut broken in (and even lube it just to be safe) this tremolo works unbelievably well. Maybe as good as the Edge Pro on my Jem. But I have gone trhough hell and back figuring out how to get mine
to work right. My friend's JP needs slightly different attention for his to function properly.
In short, I like having variety. Some people want all their guitars to sound and play the same... I have 15 guitars and they are all different with different pups. My amp setting never
changes, ever. I like the simple tonal difference that chaning the guitar itself makes, and I love the difference in feel. It's like deciding what to wear for the day when you pickup a guitar to play. I can't say that my JP is better than my Jem, it's just different... and I like that.