Sacchi himself even admitted that the current FC Barcelona is better than his Milan team. Something to take into consideration I guess.
One should also remember that Milan did only won 1 Scudetto from 1987-1991 (Sacchis era)
If we should compare the Milan era from 1987-1994 and thus the beginning of Berlusconis, then they won 3 CL titles (the tournament was far inferior at that time, one can just see Milans way to the final in either year) and 4 scudettos, 4 Italian Super Cups, 3 UEFA Super Cups and 2 Intercontinental Cups from 1987-1994.
FC Barcelona have won 5 league titles, 2 CL titles (could be 3 if they win the 28th), 1 Copa del Rey, 4 Spanish Super Cups, 1 UEFA Super Cup and 1 Intercontinental Cup from 2004-2011.
If we only look at the Pep era (2008-2011) we have won 3 league titles, 1 CL title (could be 2 the 28th), 1 Copa del Rey, 2 Spanish Super Cups, 1 Uefa Super Cup and 1 Intercontinental Cup.
So if we win our 2 CL title under Pep, we only lack 1 league title and more of the less important titles in form of the Spanish Super Cup, UEFA Super Cup and Intercontinental Cup to surpass the 1987-1994 Milan team. And we would have 4 SEASONS! to do so from 2011 on.
I think it is very possible that we will surpass them in terms of titles. I am not going to talk about the playing style because everybody can see that we play better than the 1987-1994 era, even Sacchi admitted so.
But both teams are among the all-time best.