Well, here's what I'm planning to do, if anyone would be interested, I'll post my results...
I want to make a 1st level D&D character for each class using the M&M rules... that way I can figure out the baseline for power level needed, and the players will be starting out in 'familiar' territory... (i.e. D&D players have a pretty good idea of what to expect from their starting characters, however, a PL 1 character doesn't match up with a 1st level D&D char.)
Would this be of interest to anyone, or of use?