Community firmware for Nex-5

Brand new, maybe not. At least not unless you REALLY need that feature.

But once it's out of warranty and once there has been significant testing done on the hack, why not?

Take my samsung phone, it was great when I got it, but now compared to the latest models it is laggy especially with some of the more intense apps out there. However if I load one of the stable, thoroughly tested and extremely snappy ROMs it will out perform the default setup of the next model up, and even come close enough for me not to care to the model two generations later.

It ain't there yet for nex though.