[Al Mirpuri]

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I crush the draw games at Stars including many of the regs. My biggest advice is that in 5CD Limit you almost always want to have the best hand or be repping the best hand pre-draw. Most of my money comes from abusing the unbalanced ranges of my opponents in heads-up and 3-way pots. If you're into playing cards, then consider a game like PLO or PLO8. If you're into playing against players, you almost can't lose at Limit 5CD if you read far better than your opponents and play a reasonable number of pots.

Balance out your ranges.
Find inbalance in your opponents ranges. Adjust.
Be aggressive enough to make them wonder a little, but don't try to run over the table.
Be willing to bluff.
Be willing to call down light if you think the other guy is bluffing.
Be willing to laydown to legit strength.
Raising and folding to a 3-bet pre-draw is often correct. Particularly against players who are 3-betting tight.
Avoid drawing to a second best two pair out of position.
VALUE BET! There are spots where as little as a pair of Aces can bet bet for value. Bet/Fold is a good line, particularly since the pot tends to be smaller than Hold'em rivers. Also, since this is a war of information, avoiding showdown is good.

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I love your post. I too had begun to think these thoughts but not as cogently as you have done. Sad to say, I am now playing seven stud as there are no fish in the draw games at the site I play or rather there are not enough fish.