We had
a recent thread on it. It may interest you
My personal stance is that it would be really comparable to the Anatolian Greek city-states, being largely autonomous but vassals of the Great King.
Eventually, Persian grasp on Greece may be quite limited, as greek cities could rebel or support rebel claimant as more easily than their continental counter-parts, and the political multiplicity preventing a really total control.
Some cities as Sparta may be minored, but much as Athens, Corinth or Thebes would have too much importance to outright disappear.
Eventually, it may be comparable to
Antalcidas' Peace only with a more well established vassality, at least in a first time.