To the best of my knowledge a 5-lug swap offers more wheel options. Maybe there are more advantages, but I think that's a major one. I have 275/40/17's out back anything bigger would be a challenge for me.
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With the installation of the SN95 spindles and brakes on the front of the car I have noticed improved handling and braking. The steering feels more precise and responsive especially on turn-in.
One huge bonus is that the SN95 spindles seem to have completely cured the excessive bump-steer that I was experiencing. The car no longer wanders around the road following grooves or bumps. It just feels solid. This may not be the cure for everyone's bump-steer but it helped in my case.
The improved design of the SN95 calipers provide more clamping force and less brake fade. A huge improvement over the stock Fox brakes.
Another positive aside from this conversion is that you now have the basis for the addition of larger Cobra brakes or an aftermarket big brake kit such as Baer later on down the road. These kits require SN95 style spindle and hub assemblies to work on Fox body cars.