It's not a smart idea. There's an uninstaller in the application folder. Use it.
There is a Suite uninstaller at /Applications/Utilities/Adobe Installer/Adobe Creative Suite 5 Master Collection
In addition to this, there are uninstallers in each CS5 applications folder parallel to the application executable like Uninstall Photoshop CS5. You can launch uninstaller from here also and uninstall CS5 applications.
Thanks to you both for replying. Mohammad's answer was VERY helpful.