It's been quite a while since I last shopped for an HT so I'll leave the specific assessment of the latest versions up to those who have. Also, do not forget to check out the product reviews on this site, you will find them pretty much up to date and coming from the real world warts and all perspective of users. Five watts under the usual propagation conditions to be found on 2m will certainly allow you to hit the local repeaters and do some simplex work, provided that you have a fairly decent antenna (meaning something other than the rubber duckie that comes with the HT). Exact estimates as to the line of sight range five watts can attain are highly dependent on the height of the antenna above the ground, obstructions in the vicinity of the antenna, and to some extent the gain of the antenna. Height of the antenna is probably the most significant factor in making such estimates, a high antenna driven by a transmitter of low to moderate power will normally outreach a low antenna driven by a high power transmitter.
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