I gotta be honest, I don't get MP's cover-itis anyway (BCSL extra disc, Coverta etc etc). I mean, I *do* get wanting to play your favorite tunes, but recording it in a studio setting I don't get. Covers, IMHO, really only belong on a record if a) you have a really different approach to the tune or b) you don't have enough original tunes to fill up an album.
I think when they play it live on the cruise this tune will be probably all kinds of awesome. But the recording is decisively "eh".
I'm somewhat with you. I actually like getting some bonus covers now and then, whether live or studio. Both are cool for different reasons. But I am definitely with you on the fact that I feel like Mike has overdone it in recent years, and I am burned out on covers by him in his various bands. Not that they aren't well done, but it's just overkill.
The studio covers have been a bit more and more rampant lately. Although he's only done covers with Adrenaline Mob, Neal Morse and now Transatlantic, since leaving Dream Theater at least. However, he's been doing covers all along. Looking at his discography on Wikipedia, it seems that ever since 2000 (with the exception of 2002), he's released at least one album every years with some sort of cover on it, be it studio or live, stand-alone or medley, one song or a whole show, so it's not really a NEW thing for him, and he was always about covers in DT, especially during the Derek-era.
I can see why an MP-fan might feel overwhelmed by it lately, though, especially since one of his bands (PSMS) strictly does covers, and since 2010, he's had at least 8 releases with covers on them, so it has been a bit more concentrated lately.
I guess not having one single major band tied to his name, he feels like he spread out his covers between various bands and fitting them to their style and genre. I mean, with Dream Theater, he was able to cover prog, metal, classic rock and even pop-rock tunes. Now with various bands, he only covers pop-rock with Flying Colors, metal with Adrenaline Mob, prog with Transatlantic, classic rock with Neal Morse, etc. etc. It just seems overwhelming now because he's got more outlets for covers, more options and choices.
If I were him, I'd totally take advantage of the situation and have my various bands cover various songs that I love. I'm sure there were times when he was in DT and they wanted to do a cover but not all of them could agree to it, so songs weren't played. I recall that he wanted to do "Heart Of The Sunrise" on Transatlantic's Bridge Across Forever tour but Neal (and one other) vetoed it. Eventually, Dream Theater covered it live.
I'll give Mike ONE thing, though - he doesn't repeat himself often, if at all, in terms of his covers, both studio and live.
-Marc.