Well, I have an '01 X5 sitting in my backyard waiting for spring so I can sell it. (We bought an '05 X2 last fall.)
We really enjoyed the X5. I have twin boys that are 12 now and it's the boat they learned to ski and wakeboard behind. I'm pretty much a purist skier, so I really liked the wake (or lack thereof.) Although it doesn't have the EVO hull it is still a ProStar -- what else can you say.
It handles like it's on rails. Fuel consumption? I guess it depends on what you compare it to. Less than my X2 (and most anything else that's newer) but just a bit more than the Stars & Stripes I learned to ski behind a couple of decades ago. Mine has the 310hp Predator. Hole shot like crazy and will top out at about 45 mph.
For beginner and intermediate wakeboarding the wake is fine. The stock 300lb rear ballast helps a bit; some people add another bag under the rear seat or in place of the rear seat. Space can be an issue if you want to take lots of people and lots of gear. That's one of the reasons we moved to the X2. We have: wakeboard, surfboard, slalom ski, junior pair, and a kneeboard. The boys sometimes like to bring a friend or two.
Also, with the pylon in front of the engine box it means no one can sit at the back when someone is skiing. The front will hold two adults although you have to play footsies a bit. The flip-down jumpseat makes it a bit of a pain to get to the bow -- I don't know why they didn't make the walk-thru at floor level.
All said though, depending on how much gear you plan to tote and how big/how many buddies you plan to haul around, it is a great top-of-the-line boat. I've already missed it a few times when we've been out in the X2.
Here are a couple of pics of mine. It's got about 450 hrs. Reupholstered rear seat, observer's seat, and bow seats. Subwoofer and amp. Heater. Recently replaced MMDC, steering cable and surge brake actuator. Etc. Etc.