It's been my experience that none of the sugar substitutes tastes much like sugar. Each one has a very different flavor, almost as if they are different parts of the sweetness spectrum.
Health considerations aside, IMHO, on it's own Equal tastes the best, but I get a much better sweet flavor if I combine Equal with Splenda or even Sweet 'n Low. Now you can only do that if you're not cooking whatever it is you are sweetening, but it seems to help. Anyone else noticed that?