i believe in Cambridge and Oxford you get MPhil's instead of MA/MSc by default.
no, i would not say that it is comparable to a doctorate. taught course with dissertation sounds more like any Masters. doctorates are usually not taught courses. except in the US where they often do entail some taught elements, but even then, the majority of the "course" is your thesis which usually takes several years.
might be different for "professional doctorates" and medical doctors, as medical doctors just "borrow" the title of "doctor".