Opinions may be different depending on "what" the 5th gen is being compared to. I have seen and driven the new 4Runner, but am comparing it to my 3rd gen. Toyotas newest offering is quite a bit bigger than my 2001 in everything but interior head and leg room, and exterior ground clearance. But the biggest difference to me is the "feel" I get while sitting in it. The belt line is so much higher that I seem to be sitting deep in the vehicle. This also raises the the height for which I have access to the rear cargo area through the roll down window (a HUGE feature for me with my needs). Thankfully, the floor of the cargo area is also raised in the newer model, so the actual area to which I have access to is not diminished by the higher belt line. The 2010 is 2 inches taller than the 3rd gen (larger stock size tires, no lift). That does not sound like much, but is a big difference when applied to a vehicle. Roof access is another real need for me, which is why I am so concerned about running boards in some other threads.
Having said all this, it may sound as if I don't like the new 4Runner. That is not the case at all. I am giving HIGH consideration in trading my 01 for the 10, as soon as Toyota or the aftermarket solve some of the product availability lacking that will help meet my needs for the vehicle.
I do agree that everyone should see the vehicle in person before passing judgement. IMHO, the new 4Runner is not very photogenic when it comes to the interior quality. Although, materials can always be better, they are much nicer looking than photographs indicate. I would have thought that the silvery plastic console parts would be very cheesy by the photographs, but was pleasantly surprised at the finish in person. Also, the "holographic" type gauges of the Limited and the (I think) TE are way cool. If you have seen the movie Avatar in 3D, you will probably like this display.
The 4Runner drives very nicely and has plenty of pick up even at 4800+ pounds (I drove the Limited). Very comfortable and quiet ride (but I also own both an old XJ and a convertible, so relevance should be taken into account). The test drive was only on highway and around town (as one would normally expect), but the vehicle was solid and predictable. I will need more seat time to really get a feel of whether the higher belt line will affect my visibility while driving. The 4Runner does continue to have very large side view mirrors, always a good thing in my mind.
The one thing that I am of the opposite opinion with the OP is that I think the black Limited and white SR5 look great upon seeing up close.