I would be #11 if I could find my 2.7 CD (or get an ISO from work) or if
   someone would tell me boot-strapping and X/11 work =p

there is no X11 support for the ultra5 at this point, unfortunately..
   
   On a side note, I recently tried RootHat 6.2 on my U5.  It interprets the
   IDE disk geometry completely wrong (even in advanced mode, and yes I tried
   different disks) and newfs fails.  How do they sell this stuff? Until
   then, my u5 sits idle.

they've stopped -- red hat 7 apparently will no longer contain sparc support.