Well, we finally got the fiver out of storage and had a chance to use the new hitch. All I can say is wow! It is definitely easier to hitch the trailer because there is no need to raise the trailer as high, and I was surprised at how quietly it latched. Looking at the jaws around the king pin, I can definitely see how there is no question that it is securely latched!
Towing the trailer was noticeably smoother with less chucking than I had with the Ram/Curt hitch. It was also noticeably quieter with less clunking than what was happening with my old hitch.
There seemed to be more clearance when backing the fiver into the backyard as well. I had to watch very closely with the other hitch, but with the arms in the rearward position on the B&W there is definitely more clearance between the cap of the fiver and the cab. There is still the option of using the slider for tighter situations.
Unhooking was also very easy. Even though there was a bit of tension on the jaws, the release handle was very easy to move, and the jaws released easily.
All in all, I'm very happy with this upgrade and wish I had done it long ago!