^Yes, from this vantage point, that is how tall Four Seasons will appear. At 204 meters it is significantly taller than Manulife's 163 meters. As well, FS is a fair bit closer to the photographer than Manulife and perspective dictates it would appear taller even if they were the same height.
I strive for accuracy in the heights of my renders but I am only an amateur who likes to draw. I use clues in the picture itself to define scale and then extrapolate from there. The top of Four Seasons has been changed several times and we are not sure of the completed look or the final height. (204 meters may be to the top of the roof, but there may still yet be the fins added, pushing the height higher.) I included the fins which added a few meters to the height (artistic licence).
Below is a view of the Yorkville (Yonge and Bloor), Toronto skyline from the west. On the Left you can see the cranes and construction site for the Four Seasons Hotel and Residences. In the center you can see the tallest of our uptown area at the moment are Manulife (seen edge on) and Uptown Residences with crane on top.

Original photo courtesy
urbandreamer here on
Urban Toronto:
http://urbantoronto.ca/showthread.php?46...enkes-4S-Lifetime-52-25s-aA-P-S)/page110 )
In my future render, depicting the same scene in 2015 you will see a completed Four Seasons Hotel (204 meters) on the left and it is indeed much taller than CIBC Tower (146 meters), Bay Tower (133.9 meters) and if you can find it, The Manulife Centre (163 meters).
Also in this render, many more projects currently or soon to be under construction: The tallest in the center is One Bloor East (Approx 238 meters), U Condos I and II and 5ive Condos. Plus several other projects.