Whilst I'm unsure about multicursors, everything you've stated is possible with different visual selection modes. I think the biggest problem vim has is discoverability rather than direct ease of use or lack of functionality.

You can do multiple cursors with Vim:

https://github.com/terryma/vim-multiple-cursors

I don't use them because if I want to change text in multiple places, you can highlight the lines where you want to change it, for example the current line to line 57 would be: V57G.

Then to change `foo` to `bar` type: :s/foo/bar/g and the replacements will take place within the selected range. If you only want to change some of them add a c on the end of the command.

Column selections: `ctrl-v`.

I'm not sure what kind of live feedback you mean, but Vim gives multiple forms of feedback, depending on what plugins are installed.

Do you have a demo on multicursor mouse selection !?

That is most probably with a plugin; there are a number of plugins for vim that provide varying amounts of multicursor support. I haven't found one yet, though, that provides the amount of integration and speed that sublime text's multicursor feature gives; in my experience, the relevant vim plugins work mostly and are slow.