I'm pretty much convinced than Perfect Susano'o is EMS, because if it's not Sasuke will get dumped on by Naruto when they fight. As for the translations, we haven't seen enough of PS to make the call yet. He's literally just unsheathed his sword.
That said, people don't seem to realize that PS cleanly cut the mountains without ever touching them with its sword. That attack may not have as much area-of-effect destructive power as TBB, but it is extremely focused along the cutting line. Getting hit with the actual blade? I'm pretty sure it can cut through anything. For comparison, I didn't see the mountains near the TBB clash getting affected.
Take a look yourself:
You must be registered for see links
You must be registered for see links
So yeah, in combat between PS and a Bijuu or Gedo Mazo, keep in mind that if any of them get hit with PS's sword, they are getting cut in half. In fact, seeing as Sasuke managed to cut through the eight-tail's tentacle with his lightning sword, it's not a stretch to imagine PS slicing up the Bijuu, and (though very unlikely) Gedo Mazo from a distance.
Finally, remember that the third Raikage is near to the 8 Tails in power. They tied in solo combat. You're telling me PS = or < Third Raikage?