I grew up listening to bFM through the late 80s and 90s and after living in Sydney for the last 12 years I still choose to listen to b over local stations here. It isn't a nostalgic grasp at my youth but merely down to the great DJs, music and general sense of humour that pervades pretty much everything the station does.
When I first got here TripleJ was pretty good but it has changed (or I have) and the only other contenders are community stations like FBi and 2ser, both operating a similar model to b in terms of specialist shows. Where they fall down (musically they are generally great) is a complete lack of humour, grit and niggle that gives a station its attitude. I'm not aware of any DJs from the community stations that have gone onto other areas of radio or TV.
It is a shame to see Mike getting defensive about the changes (though the only public debate I've seen is here on PA) but I think Drive is the best fit for his music and energy. Enjoy the sleep-ins Mike... I look forward to new legacies being created by new hosts, regardless of age.