Okay folks, I watched the 15 minute video that you can watch here.
As a Vocaloid 4 expert (and yes, I am definitely an expert as I've done hundreds of Vocaloid tracks) here is the no nonsense 25 cent tour of Vocaloid 5 in simple, quick, to the point terms.
1. They blew the doors off the technology as far as what you can do with this. Vocaloid 4 to Vocaloid 5 is like comparing MS DOS to Windows 7. Literally mind blown at the difference.
2. Yes, it IS incredibly easy to work with Vocaloid 5. So much more easier than with Vocaloid 4. All that's to be determined is how buggy the initial release is. That is always a concern.
3. They FINALLY got rid of that horrible vocoder sound in the vocals. Yes, you can still get it with FX but the natural voice of the built in singers is human as far as surface sound goes.
Okay, so why did I use the term "surface sound?" Because that's what it is. It still does not, nor can it EVER have the kind of human dynamics that you're going to get out of a Tina Turner or a Celine Dionne or whoever you want to use as an example as somebody with a dynamic voice.
But, and this is the absolute critical part, for those boy band fluffy singers (you know EXACTLY what I'm talking about) this thing is a NEAR perfect replacement. I can post tons of examples of the kind of music I'm talking about. But I don't have to. We all know THAT sound.
Vocaloid 5 is LEAPS AND BOUNDS ahead of Vocaloid 4 in every way. There is no disputing that. For realistic human vocals (as long as you're not looking for a dynamic singer) this is so close it's scary.
But don't take my word for it. Listen for yourself and imagine somebody like a Backstreet Boys or NSync or Justin Bieber. Especially Bieber. This thing sounds just as good if not better.
Watch the video.