In my opinion, there is no advantage to 5 lug over 6 lugs. There is a 6 lug disc brake kit available that uses larger disc than the 5 lug kit. Plenty of wheels available from the dawn of time to the present that will work with the truck. 6 lugs look more manly than 5 lugs to me.

I believe the 5 lug conversion is more appealing to folks who have put a MII front suspension under their truck, and essentially turned their trucks into cars.