Here is my experience with DOT 5. I used it in my 1973 FJ55 Landcruiser. Before I used it, I had to rebuild or replace at least 2 wheel cylinders every year due to corrosion. I used it primarily off-road and water crossings were done occasionally.
Before I filed and bled with DOT 5, I replaced all of the rubber components in the hydraulic system and flushed it with ethanol, followed by blowing out with air. I never had any problems with the brakes system after that.
I was so happy with the results that I tried DOT 5 in my race car. That was a disaster. After about 3 or 4 laps the pedal got soft and had to be pumped to get them to work. I tried bleeding several times thinking there was still some air in the system but got no improvement.
I did some research online to find out more about DOT 5. It seems that it aerates easily and forms very small bubbles which compress when using the brakes. I came to the conclusion that in a race car, these fine bubbles form from using the brakes a lot, flowing fast back and forth through the hydraulics and getting hot. I went back to using high temperature racing brake fluid and flushing periodically.
I use Motul 600 in my race car but don't recommend it for a street car unless you want to bleed often. The chemical fluids used in race brake fluid will take higher temperatures, but also typically absorbs moisture quicker than standard DOT 4. I know there are some that say they absorb moisture slowly, but I don't trust that. I use any good brand name synthetic DOT 4 brake fluid in all my vehicles other than my race car.