This document summarizes the new features and goals of RxJS version 5, which aims to improve the modularity, performance, debugging, and extensibility of the RxJS library. Key changes include making RxJS fully modular, improving performance by reducing allocations and call stack sizes, enhancing debugging with simpler operator implementations, and allowing better extensibility through subclassing Observables and maintaining Subject bi-directionality. Simpler unit tests using marble diagrams are also highlighted.