He, he. That is about as negative a spin as you could hope to put on the possibility of RISC OS 5 for the RiscPC.
I agree that for anyone running 4.02 or below that upgrading to RO5 does offer them some extra features. However I would not class being 32bit as a feature, all this means is those users would need to purchase Aemulor to run their old software, which would be a tad slower than running on 4.02 or one of the Select branches.
Having application space >28Mb for most users will not be an issue due to dynamic areas.