That's a good, honest review and consistent with some other impressions I have read so far.
As a CT ref/player I use only what I need to use and many of the original LBBs don't get used in my campaigns.
I'll go as far as saying that LBBs 1-3 are all I need, but the other LLBs can be useful when I need them.
So, my question is:
Could I use T5 in much the same way? By that I mean is the T5 Core Rules Book complete enough (easy enough to understand) to allow me to do the same as I have been doing with CT LBBs?
Thanks
Easy enough to understand as a whole - I'd say no.
BUT, (and this is very important)
Whatever your group is very interested in, there is a subsystem in T5 that will bring all the crunchiness they may desire. That is the strength of the monolith.
Every group will find 20% of this that will make them go "How did we live without this?" Every group will have a differing 20%, based on their style of play.
Let me give an example:
Things like QREBS, FLUX, and Gun/Blade/Vehicle/Ship/Thing maker aren't concepts/levels of granularity that my group are interested in.
Our group is going exploring (Or running away from governments trying to kill our characters, depending on how one looks at it.) We like the ships available from CT/MT and we'll run with them (Yeah, those use different design sequences. So what. It is irrelevant for our purposes.)
So pages 420 - 476 (World Design), and to a lesser extent pages 477 - 496 (Trade & Commerce), and the chapter on Starports (304 - 310) will be used.
The Sophont chaper 537 -559 & beastmaker 575 - 587 will be used, heavily.
Everything depends on what what your group wants to do.
P.S. I really, really, really despise the character generation system. In a book with a number of badly thought out ideas, it stands out the most (other than a completely randomized layout and missing index).