Michael A.D.
The fret number should indicate 5 and should be to the left of the D note on the 5th string.
Don't most guitarists think the bass note's position = the fret number in a chord diagram?
Sorry I disagree with you on both, IMHO that only confuses things for beginners.
Number stating bottom fret of chord is nice and simple.
If you want to indicate Root, 3rd, 5th, etc. - roman numerals, colors or even shapes are techniques I've seen used.
GP7 sounds interesting... from what I understand it can't now but if it could indicate note type at some point that would rock.