Yes to both. I will say I don't want to be the fount of WM5 info just because I've got work to do and I know the questions on this will come flowing through like a dam burst
WM5 is a huge upgrade. The persistent store means that your FlashROM will be used like a hard drive and your RAM will be used as real RAM - just like on a desktop PC. For a lot of apps, very few changes have to be made. For an app like PI that uses the PIM databases, thousands of lines of code had to be changed.
PI 2005 R2 (the next release) is already ported to WM5. We're ready now. But even so, we're only providing the CAB files upon request because R2 is still being worked on for new features shared among WM05/03/02 versions.
So if you have a WM5 device (not pirated - legal copy only please), feel free to contact us for a CAB file