Holy misinformation batman!
It seems like everyone in here wants to hear themselves speak, regardless if what they're saying is completely wrong. If you don't know, don't pretend you do people, jeeze
The gen5 does NOT have 4 lobes per rotor
The gen5 does NOT have an IAC system integrated into it, the Series III motors that the Gen5 came on do not have an IAC at all! They have a drive by wire TB which controls idle, without the need for an IAC valve. The only electronic component integrated into the Gen5 is the evap solenoid, located on the rear of the blower, near the PCV valve access flange.
The Gen5 has the same rotor helix as the Gen3 (hell, the bare machined rotors are identical), same displacement, same rotor diameter and length.
The Gen5 has an abradable epoxy coating designed to wear into itself, thereby increasing volumetric and adiabatic efficiency (think, less gap between rotors and case). There is no data to my knowledge about the extent to which this increases efficiency though.
The case also has a decreased incline from the inlet to the rotors, a larger inlet bore, as well as a wider flow path that is more optimized, all of which serves to increase volumetric efficiency.
The outlet is also changed, slightly larger, and offset further towards the snout side of the blower, which causes less impediment to the flow, again increasing efficiency.
The common misconception is that, because the 04+ motors are rated at 20 hp more than the Series II motors, that swapping a Gen5 will result in an immediate 20 hp gain. This is just not the case, and on a mildly to moderately modded car, there will be very little gain to be had with the Gen5 over a Gen3. Only when these blowers are really pushed outside their efficiency ranges does the difference really become apparent. The smaller the pulley, the more the Gen5 is going to outperform the Gen3.