I don't think Iron Maiden is a very good example. Bruce wasn't the only one to leave the band, people. Adrian Smith was absent as well.
Iron Maiden, Motley Crue, Judas Priest...all these bands had something Dream Theater never did:
Platinum albums. Dream Theater's biggest selling album was I & W in 1992/93, it went gold (500K). Awake moved about 250K, and then that was it, they've been around the 100 - 150K mark since.
When those bands came back with the members who left them, the millions of fans who bought those albums came back in droves to the tours. But they didn't buy their new albums in droves.
I disagree with Mike that DT would have come back bigger then ever after a few year break. DT have continuously been building momentum that started in 1999 with SFAM. Every album is charting higher, and its not unreasonable to think that if it was good enough and the buzz was strong enough (and no one big acts were releasing that week) DT
could score a #1 on the Billboards in 2011.
If DT were to take a few years off, they would lose that momentum and have no chance at getting to the next level, which Mike seems to be concerned with. In fact, they might sell 50% less albums and lose part of the fan base who was impatient. Probably not in Europe, but we know how fickle people are in the States.
All of those bands he mentioned
did not achieve new hieghts after there hiatus, lol. Look a Smashing Pumpkins. Took 7 years off, and came back to poor sales and lackluster concert attendance. And this was a band that went platinum!
I really think they should have continued to work towards a compromise. Instead of recording in January, push it back 6 months. Unfortunately it seems niether side was willing to budge.
We are lucky that all 4 members want to move forward with DT, if just one 'took Mike's side', we might be looking at a break up.
I disagree with Mike's assessment, taking a hiatus would hurt DT much more than it would help. However, they could slow down and do an album every 2.5/3 years instead of every 2 years. Hell most bands these days take 3 years inbetween albums anyway.