The REAL Story of Superman
Enter Mark Milton, who possesses all the characteristics on DC Comics Superman, without the fantastical story. Hyperion, as he is eventually known, falls from the sky and is picked up by a farmer couple who take him in as his own. However, minutes later, the United States government shows up and takes the child. At a round table discussion, they decide that the best interest for the country is to raise the child themselves and brain wash him as a patriot.
Hyperion is put in a home with two fake parents who raise him behind giant walls of barbed wire. On Hyperion's third birthday, the couple give him a dog, who he incinerates with his eyes. This is the first act by Hyperion that displays his vast powers. The couple who are raising him fear that they might be next, but are forced to stay by the government, and end up living in fear for the remainder of their tenure with the child.
Over time, Hyperion discovers the many characteristics that will he will eventually be known by, such as flight, super speed, and incredible resilience. Marvel goes to great lengths to intricately infuse the story with Superman-esque similarities and succeeds quite well in doing so.
The story of Hyperion, in my opinion, is much more well done than that of DC's Superman. Because of it's MAX rating, Marvel was allowed to take Supreme Power to the lengths necessary in order to tell a believable and grandiose story. Many more realistic elements are used in Marvel's storytelling, which isn't always (and oftentimes strays greatly) from being a happy tale.
The biggest downfall to this comic, and the series in general, is it's slow pace. Don't expect to pick up a copy and get right into the action. In fact, you won't see any of that at all in the first 5 comics, and then sporadically throughout the remaining 13. This isn't to say the comics are uninteresting, just more geared to a mature audience, especially considering the vast amounts of dialog.