Having used Corel since Corel 3 right through to X3 and X4 I am fairly, but not completely, familiar with it.
I have only had X5 a day, but already I find it much better than X3 (I rarely used X4 as it was on a spare computer). Some of the gain may be Windows 7 related, but much is down to Corel.
One thing that was great was the tutorials on the DVD. There was NO MUSIC !!!! brilliant. They were useful tutorials too and easy to repeat bits of until they were clear.
And having a hard copy manual, like the earlier versions used to do (though those had all the clipart printed too which isn't realy necessary nowadays) is very nice. Served as a useful refresher. And the book quality, with its DVD holder and protective case gave pleasure.
CorelDraw is a brilliant program if like me you do layouts with pictures. To me much better for newsletters than Publisher, which suits those who are not too good at laying things out (though perhaps for a multi page mostly text newsletter Publisher would be good). Corel PhotoPaint complements it perfectly.
p.s. since there wasn't Corel on my new Win 7 computer I expected to have to pop in an earlier version CD for this upgrade. But wasn't asked at all. Maybe it found remnants on my data drive.