There's a lot of dismay over Pages 5 and its loss of features. It's being captured rather well in this Apple forum:
https://discussions.apple.com/thread/5468056
As of the time of this posting, page 15 in the thread above has a current list of adds and take-aways (with an annoying strike-through on the removed features). I'll post it here for your consideration (alphabetized, no less).
Keep in mind this is written by users. I haven't seen Pages 5 yet so I'm just passing this along for review and comment:
Updated Check List (as of Oct 24, 7:23AM):
New Pages 5 added, removed or altered features:
Added
Collaboration
Phonetic Guide for Chinese & Japanese
Right to Left text
Share outside iCloud
Single model templates. No More Word Processing/Layout templates
Template names can be changed inside the Template Chooser
Text language is detected automatically
REMOVED
135 templates
Accented Characters in Footer
Alignment Guides
Background Object selectable
Bookmarks and Links
Bullet points in comments
Capture pages/sections
Character Styles (?)
Import of older .pages formatting - Not Clean
Customizable Toolbar
Default Start Up page
Delete page
Drag and Drop VCards
Drag reorganize pages
Duplicate pages
Endnotes
Export to .txt or .rtf
Facing pages
Find & Replace special characters (e.g. paragraph returns)
Images within Tables
Import Styles
Insert File Name
Layout Breaks
Layout Margins
List Styles (?)
Mail Merge
Manage Pages
Mask with shapes other than rectangle
Mathtype/Grapher Equations/Formulae within Pages
Media Inspector links to Aperture Library
Media Inspector links to iPhoto library on external drive
Merge Fields
Multiple Comments view
Open Type features
Outline view
Paste and keep style
Retain zoom level of document
Search comments
Search in Media Browser
Search Sidebar
Select all instances of a Style
Select non-contiguous text
Selective formatting in Character Styles
Storyboards
Style Function key shortcuts
Styles Drawer
Subscript/superscript buttons
T.O.C. clean numbering
Tables in Headers/Footers
Tables to Text
Text to Tables
Textbox linking
Two-up view
User Guide (?)
Vertical Ruler
Word (.DOCX) export to iCloud
Altered
AppleScript Library for Pages 5 has changed with many classes and commands removed which indicates how the feature lists have been slashed
Character Styles are in the Text Inspector under Bold, Italic etc
Documents reconverted back to Pages '09 lose all template information
Drag and Drop text only works with .txt files now
Header appears to be multi-column
Language set moved to Edit > Spelling and Grammar > Show Spelling and Grammar now document wide
New file format/architecture (but still .pages in name?) not backwardly compatible
Page numbering method changed
Pages '09 files previewed on iPad via iCloud are irrevocably converted
Subscript/superscript text is now a convoluted route Gear > Advanced options > Baseline > Subscript/Superscript
Tabbing within Table cells appears to be inconsistent, tabbing internally with numbers.
Template file storage location moved …somewhere?
Update is missing for older installations (Apple is reportedly working on a solution via a redeemable code or update on their Support Download site)
Wrap methods have been cut back severely
https://discussions.apple.com/thread/5468056
As of the time of this posting, page 15 in the thread above has a current list of adds and take-aways (with an annoying strike-through on the removed features). I'll post it here for your consideration (alphabetized, no less).
Keep in mind this is written by users. I haven't seen Pages 5 yet so I'm just passing this along for review and comment:
Updated Check List (as of Oct 24, 7:23AM):
New Pages 5 added, removed or altered features:
Added
Collaboration
Phonetic Guide for Chinese & Japanese
Right to Left text
Share outside iCloud
Single model templates. No More Word Processing/Layout templates
Template names can be changed inside the Template Chooser
Text language is detected automatically
REMOVED
135 templates
Accented Characters in Footer
Alignment Guides
Background Object selectable
Bookmarks and Links
Bullet points in comments
Capture pages/sections
Character Styles (?)
Import of older .pages formatting - Not Clean
Customizable Toolbar
Default Start Up page
Delete page
Drag and Drop VCards
Drag reorganize pages
Duplicate pages
Endnotes
Export to .txt or .rtf
Facing pages
Find & Replace special characters (e.g. paragraph returns)
Images within Tables
Import Styles
Insert File Name
Layout Breaks
Layout Margins
List Styles (?)
Mail Merge
Manage Pages
Mask with shapes other than rectangle
Mathtype/Grapher Equations/Formulae within Pages
Media Inspector links to Aperture Library
Media Inspector links to iPhoto library on external drive
Merge Fields
Multiple Comments view
Open Type features
Outline view
Paste and keep style
Retain zoom level of document
Search comments
Search in Media Browser
Search Sidebar
Select all instances of a Style
Select non-contiguous text
Selective formatting in Character Styles
Storyboards
Style Function key shortcuts
Styles Drawer
Subscript/superscript buttons
T.O.C. clean numbering
Tables in Headers/Footers
Tables to Text
Text to Tables
Textbox linking
Two-up view
User Guide (?)
Vertical Ruler
Word (.DOCX) export to iCloud
Altered
AppleScript Library for Pages 5 has changed with many classes and commands removed which indicates how the feature lists have been slashed
Character Styles are in the Text Inspector under Bold, Italic etc
Documents reconverted back to Pages '09 lose all template information
Drag and Drop text only works with .txt files now
Header appears to be multi-column
Language set moved to Edit > Spelling and Grammar > Show Spelling and Grammar now document wide
New file format/architecture (but still .pages in name?) not backwardly compatible
Page numbering method changed
Pages '09 files previewed on iPad via iCloud are irrevocably converted
Subscript/superscript text is now a convoluted route Gear > Advanced options > Baseline > Subscript/Superscript
Tabbing within Table cells appears to be inconsistent, tabbing internally with numbers.
Template file storage location moved …somewhere?
Update is missing for older installations (Apple is reportedly working on a solution via a redeemable code or update on their Support Download site)
Wrap methods have been cut back severely
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