Seems to me, just on my own experiences; that it depends on how long the seals have been run in DOT 3/4. If they are relatively new, they seem to usually make the transition OK.
But I've had several failures that I think were likely caused by long exposure to DOT 3/4, followed by DOT 5. The most dramatic was Stag #1, where just a few months after making the switch, the brake pedal started slowly sinking to the floor at stop lights. I had other things going on, so I drove it to a (supposedly) good LBC mechanic. On the way there, rolling down I-10 about 70 mph, the brake hydraulics quit working entirely! Mind you, this was a split system and both halves failed. Later post-mortem showed that the MC cups had gotten very soft and slippery, almost the hardness of gummy bears (tho not as sticky); and that both of them had torn through the bottom part of the cup. Very unusual failure, I've never seen it before or since.
Only time I've ever had a soft line fail, was after I didn't replace the one for the rear axle on my former TR3A. Just a few months after installing DOT 5 (and doing all the other things), the inside of the line broke and started acting like a check valve; making the rear brakes drag and overheat (literally smoke rolling out from under the car).
Not sure if it was mentioned in this thread; many people (including myself) have had troubles with the original type hydraulic brake light switch after converting to DOT 5. After too much fiddling, I converted to a mechanically operated switch, which I feel works better anyway. Others have said the switch from a Harley Davidson motorcycle will work with DOT 5; but I haven't tried that.