A 5wt is going to be a little puny for bass. A lot of bass patterns are very wind-resistant, so you need some umph to the rod to be able to cast them very far. A 7/8wt will be just about right.

As for flies, your best bets are large Clousers, Woolly Buggers, Crawfish Patterns, and (my favorite) some purple Bunny Leeches. Some Deer-Hair poppers are also nice to have, as well as a few Crease Minnows.