I know that there is a way to remove the 5000+ restriction on views, through an unsupported modification of the DeploymentProperties table, and you probably have some reasons a to why it was introduced, but from the clients point of view, it makes no sense.
In MS CRM 4.0 clients we're complaining of the lack of a counters on view, they got it, but now they are basically all complaining about the 5000+ counter.
It should be possible to achieve a decent performance on even large tables, if not, you could consider employing a two-phase counting scheme, first rendering the 5000+ count one the view to increase response times and then update the actual count through ajax or something similar, asynchronously.
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Thank you for your feedback. We are re-categorizing this feedback to get it in front of the right team.
Sincerely,
Narinder Singh
PM, Microsoft