Here's a question that has some bearing on what everyone has to say.
Who has actual experience using it......Correctly
Totally stripped and cleaned system (seal, cups etc.) and then Dot5 filled.
Captain
I experienced no issues with using DOT 5 when I installed my PM brakes, lines, and master cylinder.
Also, when I replaced the brake system on my Corvette, the kit shipped with DOT 5 included.
To be clear, there was nothing of the original systems reused in either case.
However, I also used that same DOT 5 fluid in my stock F-2 system after a quickie clean and rebuild with new seals, didn't have any problems in the 3 years I kept that one and the fluid didn't discolor, staying nicely purple.
No question it is not the best choice for every application, but it seemed to be fine for mine.
FYI we use DOT 4 in our drag racers and maintain a regular brake bleeding schedule. Something I've noticed, the vehicle which still uses steel rotors and Brembo calipers has noticeably quicker darkening of the fluid than our toys required to have carbon rotors and Strange calipers.