+1
After playing my 24 fret, set-neck, natural mahogany wonder with DiMarzio Model Js for several years, I have regressed to Fender Precisions (I have 3 at the moment: a '51 RI, a '50s and a Standard).
I also sold my 5-string Ibanez last year, although I almost bought a Tribute L2500 this Spring.

The 5 has a lot of appeal, with the ability to play a low D, as an obvious example. For a stretch I was playing the Ibanez with a folkie group, where the singer used a capo to pitch songs to her voice, and the 5 was a very convenient way to play in B or A# and get a nice bottom.
And yet...
Here are my reasons for NOT owning a 5 (although, had the dealer offered another $50 trade-in when I was shopping for an L2500, I might be arguing differently)

:
1. I don't
really need anything below E (well, maybe D once in a while). The material my band plays doesn't call for slammin' bass, or low synth notes.
2. Simplicity rules: four strings, two hands, two knobs. That's my current mantra. Obsess about the music, not about the gear. YMMV, of course, but this is my approach.
3. There's no such thing as a 5 that sounds like my '50s P with a QP and TI Jazz Flats. Sorry, "close" don't cut it. Now that I've found the P-with-flats sound, I am satisfied -- at least, for now.
If I were playing different material, I'd go for a 5 anyhow....
