The manual (which I still can't figure out how to get the app/plugin to launch) says

3.3.1 - Presets backward compatibility
If you are upgrading from previous versions of T-RackS (or you have them still installed on your computer), it is
possible to both read and load older T-RackS CS presets and they will work perfectly.
However, the old user presets need to be copied manually from the T-RackS folder to the T-RackS 5 folder.

 
In case that doesn't help you, it appears presets are saved in under your Windows Documents folder.  So
 
%USERPROFILE%\Documents\IK Multimedia\T-RackS CS
 
The new version 5 presets are saved in
 
%USERPROFILE%\Documents\IK Multimedia\T-RackS 5
 
(Windows will expand the %USERPROFILE% if you paste it into the Windows Explorer or you can do it yourself, for example my paths actually end up as
C:\Users\matthews\Documents\IK Multimedia\T-RackS 5 )
 
I copied the presets from the correct sub-folder (Global vs Module) from the CS dir to the correct 5 dir.  Seems to work.  The version 4 module presets end in .tr4m the version 5 one's end in .tr5m.  The global presets are .tr4p and .tr5p
 
In theory you can find any presets in your old CS dir that isn't in the new 5 dir by matching up the file names and bringing those presets over.  In reality that is a lot of work which some software company should have built some tool to help with.
 

wow 963 meg download!

Man, I just got in on the PreOrder and am downloading it now.

BobF
Peter - Been meaning to ask this question for other products ...
 
I have both T-RackS 5 and T-RackS 5 CS in my account.  Both are the same size download. 
 
Why for I have two?

T-RackS 5 Custom Shop is the free version that is in every IK account.

The Graphics Resources error was reported to the team this morning.  Thank you.

They just put out a new installer that fixes my issues, so that's good.  I uninstalled before I ran the new one (removing my junction first).  Seems to be OK with being on my d: drive now.  New installer is 5.0_ver.B
 

Kinda odd that the plugins I bought during the recent group buy all have updates to v5.  This was back in July or August.  So I guess I don't have to buy upgrades for them.

Got everything up and running, installed to different drive than C: with no error, and so far so good. Really like the new GUIs; the cartoony vibe of the previous GUIs sort of bugged me a bit. In particular, I really like the revamped presets menu - much easier to navigate now that it responds to the scroll wheel on my mouse. The v4 plugs were sort of finicky, in that regard, as the navigation arrow was at the bottom, and the preset menu closed as soon as you made a selection. The v5 menus stay open after you select a preset, and you can cycle through them at your leisure. Makes it way easier to test them. That sounds like a small thing, but I find it to be a very nice little detail.  
 
The four new plugs all seem to work without any issues. I've only really messed around with One, but so far I like it. 
 
I ran the standalone app for a bit, and had no issues with it, although I didn't really explore or put it through any testing of note, so I can't comment on its stability or whatever. It did start up for me with no issues, though. 

Amicus, I, too, was not found of the "Comic Book Illustrated" look of V4.
It did the job, but man was it terrible to look at...

kitekrazy1
Kinda odd that the plugins I bought during the recent group buy all have updates to v5.  This was back in July or August.  So I guess I don't have to buy upgrades for them.

That's how it should be, so thanks to IK for that. Now, once they've got the upgrade at 50% off, I'll get it in the Custom Shop. Or maybe  the Max upgrade if that one's not much higher in price. As it stands, I'm missing 9 plugins out of 38, including the four new ones, but also including less important ones like the Room and Inverse verbs. So my view, with 29 plugins already in my bag from those good old group buy days, I'll take the regular upgrade with the four new plugins for 75 gear credits, or the Max upgrade for 100 gear credits. Not paying more. I'm firm on that. For now.