I am considering upgrading from Lightroom 3 to 5. I am using LIghtroom mostly to organize my reference image library. I don't do much editing in it. What has always bugged me about Lightroom 3 was, that as soon as I would accidentally change, for example, the name of the folder the images were residing in, Lightroom wouldn't find them anymore. I have never discovered an easy way to relink the images afterwards. Does Lightroom 5 make this easier? I am really concerned about upgrading and potentially creating chaos in my image library.
If all you're using Lightroom for is to organize your library I can't see any reason for you to upgrade, unless it's for camera compatibility. With Lightroom, if you're going to rename a folder it's best to do that from within Lightroom. On Windows, all you have to do is right-click on the folder name and choose the Rename option. You have to realize that your photos are not "in" Lightroom. Lightroom simply references your images wherever you have put them on your hard drive. The folder name is a key element in keeping track of where the images are located. If you change the folder name and don't use Lightroom, then you have broken the link that enables the program to keep track of things.
But all is not lost. If you change the name of the folder outside of Lightroom, the folder will display as missing in your library tree. On Windows, all that is necessary is to right-click on the missing folder and choose the option to update the folder location. Then you can browse to where the images are now located, choose that location and everything is really going to again.
In my opinion, you are missing out on a lot of wonderful features in Lightroom using it the way you are. However, you know your workflow much better than I.