(I know I already posted on this a while ago, but I'm sort of changing my awnser, if that's ok. :-/ )
I think he would have made an OK Tsar, but it sort of depends on what age he was and stuff. I think as a child, it looked like he was going to be a gentleman, but if Nicholas had lived into the 1940's, like etonexile suggested, something could have happened to drasticly change his personality from how he was as a child.
or say, he was still young when he was Tsar...say Nicholas got sick and died and Michael for some inplausable reason couldn't take over....looking at it from his point of view, I would have been terrefied. Leading all of Russia, in a bad time, and not full understanding what you should do would be enough to make me a poor leader no matter what my personality was.
Sorry if this is a bit confusing...it's sort of hard to say on a post, without taking up too much space.

:-/
-Dana