Like someone else noted, if you are getting one for coin and relic hunting, then go for the 4800 or find a new 4500 if you can. I know where two are for sale new, but they are hard to find unless you take a risk on a fake one. The 4800 would be the way to go other wise. You can get them new for around $3800-$3900 if you look in the right places.
I have the 5000 and if I would have only knew then what I know now, I would have stuck with the 4500 or got a 4800 and saved a considerable amount of cash. You aren't going to be able to use the Coin/Relic timing...forget about it. If the ground is mineralized at all, it wont balance in that timing. In fact, I have yet to converse with anyone in the continental US that has been able to balance the machine in Coin/Relic timing. So you are going to be using the same timings that the 4500 has in it anyway with no other real advantage.
As far as iron goes. If it is big iron, the GPXs can do a really good job at discriminating those out. It will simply null out over iron.
When talking about nails and such, it does a good job there to a degree. It all depends on how you have it setup to be honest. It is light years ahead of the TDI when it comes to this. Depending on what timing you are in and what speed you have it set at, you can do fairly well at discriminating out nails. If they are bent they will sometimes fool you if you are digging those iffy signals.
I've found that the GPXs will hit minie balls good down to about a foot deep, and give what I call a "no brainer" signal. Down to 12 inches you are good. It's when you start trying to find them beyond a foot, that it gets tricky, because sometimes the signals wont be as hard hitting as they were shallower and give more iffy signals. I've dug .58 cal minie balls down to 18 inches with it and have dug the .69 cal 3 ringers down to 20 inches. Those are the harder ones to tell from the shallower bullets. The GPX can do it but you're gonna be digging a little bit of deeper nails in the process. If you can dig down a few inches and the signal get worse, it's not a bullet. If you dig down a little and it gets better, jackpot. Watch out though, because shallower bullets will actually overload the detector and make you think it's nulling it out like iron...if you raise the coil a bit and it starts to give a smoother tone it's a shallower target. Iron will still give the broken signal or nulled out signal, pending on how high or low you have the disc set at.
What is needed, is a smaller round DD coil for the GPXs. The 11" is simply too big to work heavily laden iron areas. There aren't many smaller ones offered and most of those are elliptical coils. The little CoilTek Joey coil works well in iron but I think a 6 or 8 inch round DD coil would be the ticket for the GPXs in heavy iron.