5-MeO-DMT has nothing to do with anything else. By the way, pick up TiHKAL, or read it online on erowid, to find out how every *DMT is different from each other.
This said, 5-MeO-DMT smells more or less the same and has perhaps the same taste as DMT. I say perhaps, because I have not tasted it directly, just with some sub-lingual experiences, where I tried as much as possible not to taste it.
As for effects, as I mentioned, nothing compares to it. It is 3x-10x stronger than DMT but it is highly variable from person to person. For many people it is not as visual, but is much more mind-blowing. the term "white-out" applies to the 5-MeO-DMT experience. It is, IMO, a much deeper experience than DMT. With DMT you are still a prisoner of the realm of form and words and meanings, with 5-MeO-DMT you just experience the Divine White Brilliance and words are not capable to even convene a simple idea of what happens. On the other hand, reports of bad trips and of things going SERIOUSLY wrong are much more common on 5-MeO-DMT. The body load can be considerable and there is a not small chance of you pass out and, in your unconsciousness, do things to hurt your self or others, scream, and so on. So it is IMPERATIVE to have a sitter on your first sessions
hope this helps