Ok, just wrapped up four hours of testing LL5, including using my sound designer skills to see if I could get what I wanted out of it.
It is definitely a big improvement over LL 4.
But it still, to my ears, does not beat my go-to electric piano VST's, which are Acousticsamples V-tines and V-reeds, and Korg's EP-1 (all of these employ modeling mixed with samples). Didn't even beat Rhodes V8 plugin, which for certain things is really great too. (I have the Pianoteq Rhodes and Wurly collections, but have never felt those were anywhere near realistic sounding).
LL 5 has NO Dyno-My-Piano presets. And no Queen "Best Friend" Wurly preset. A big oversight on the part of AAS' sound design team. The "amp distortion" in LL5 is in my opinion unusable. The chorus, and flanger are just ok, phaser pretty good, delay and reverb decent. But you can always run the plugin through third-party amp and pedal sims (like iK Tonex) and chorus and flanger pedal plugins (like UAD's Galaxy Chorus and MXR Flanger-Doubler, or Moog's Moogerfooger Cluster Flux) for better effects.
I couldn't really get a great Dyno out of it..the components are there (hammer, tonebar, pickup distance, etc.) but getting "that" squawk and bell combination characteristic of Dyno-My-Pianos was time consuming and I never quite got what I wanted to hear. Perhaps with a few more hours of work I could, but I already have loads of great Dyno Rhodes and World pianos that I have spent loads of time programming, don't need another electric piano VST.
I won't say AAS blew it with LL 5. They certainly made a huge leap from Chromaphone 2 to Chromaphone 3, and I was expecting that kind of jump up with LL5, but it didn't quite get there for me. I just never felt like I was playing a real Rhodes or Wurli.