Re: changing altitude question
You do not have to re-jet it. You will need to re-prop it though. I had good luck with re-propping when going from 5000ft to 1000ft and visa versa. If you plan on staying only at 5000 ft though, you will see an increase in gas mileage if you re-jet it. For example, I re-jetted a pickup with a Chevy 5.7 (350) in it and it went from 10mph to 14mpg. That was a Quadrajet carb and took 30 minutes to accomplish the first time and about half that on subsequent vehicles. No power change was noted but a tank of gas lasted noticeably longer.
Just re-prop it with a smaller prop and you will be fine and its easy to change if you go somewhere lower.