Yes, very similar. Eerily, Petrov's actions happened only 2 months before Able Archer started. Good thing that I checked the dates, since I realized that the invasion of Grenada is ongoing and will tie 82nd AB into that island. Doesn't really change the big picture though.
Re: sci-fi equipment
Much of the existing soviet equipment is pretty fantastic looking to a modern, western person anyway

But yes, both sides were introducing new equipment during this time, though that equipment is nowadays quite common.
M1 Abrams and M2 Bradley were slowly coming into usage, as was BMP-3 and Leopard 2. F-117 stealth fighter/bomber was very hush-hush and not in use yet either.
Hmm, I think I'll try to dig up some pictures for that thread.