well, i've never heard the 5 times an hour thing... but in the past, whenever i've gone to buy a new filter, i've always gone with something that was around 3 times higher than whatever the box recommended... (ie, for a 50g tank, i would go with a filter rated for 150g tank)
after reading this post, i checked what my actual turn over would be if the filter were running at optimum
GPH speed... turned out to be really close to 5x per hour. /shrug
the one thing that i do like about the canister filters is that you can use whatever media you want, in whatever order... you have your sponges/floss... the bio-material, and the option of carbon if your tank needs it.
HOB filters, it's alot harder to break it down that much, imo - and the sheer difference in quantity of media is quite large as well.
i know i didn't answer your question at all, but i'd be just as interested in hearing what others (who probably know a lot more than me) have to say.