I wouldn’t consider myself a final authority on this, but…
Until someone writes a state machine driven interface using the RP1, using a Pi5 for high speed GPIO is a really bad idea.
The Pi4 and below access the GPIO pins directly over the processor connected AXI bus. On the Pi5, GPIO access might have to wait for PCIe bus availability. For some that’s a non-issue. For others, using things like an an NVME interface or an
external GPU via PCIe could result in maximum size PCIe transactions adding significant latency to the RP1 at some times and little or none at others.
I’d highly recommend the juice pack. I have one and the setup was pretty easy.
I also picked up a couple of Ethernet modules but haven’t gotten around to wiring one up and loading correct gateware to use it.