Yes. Nole is as great as Federer that is why he crowned his season where he won 3 slams with the YEC win like Federer did in 2004, 2006 and 2007.
Exactly! Novak is not Federer! Look at Federer's record in 2006 - he lost only to Nadal & Murray. Djokovic lost to Tipsarevic, Nishikori, Ferrer, Murray, Federer, Del Potro. Plus you can't ignore style of play. Djokovic's is more of a strain to his body than Federer's & Djokovic does not have as good a serve as Federer - Federer could fire down a lot of aces to get on a roll - Novak wins mainly with his baseline game.
2012, 2013 may be his seasons but beyond that is unlikely. Plus Murray probably won't go awol at the HC masters like he did last year. Federer was by far the best on HCs and grass so he had 3 slams which he was the overwhelming favourite for. Novak has the Aus Open. He's favourite for US Open too but others like Murray have chances. He's not the favourite for the French or Wimbledon (or certainly won't be for an extended number of years) - far harder for him to get 10+ slams for that reason.
The Fedal era of only them winning slams is gone (but really given that Federer is over 30 this is not a big shock...) but they're still big contenders. Winning 3 sets in a best of 5 is still not easy - last year in slams Federer lost to Djokovic, Tsonga & Nadal; Nadal to Djokovic & Ferrer i.e. no one outside the top 6.