I am planning to use the SAM model to simulate 5-minute solar output using the Photovoltaic (PVWatts) performance model with the "No financial model" option. I have been reading some posts in the SAM forum about some issues with sub-hourly simulation. Are you aware of any related issues with the 2016.3.14 version of the program? I would like to know if there are some problems with it before I buy the 5-minute weather data for my simulation.
SAM 2016.3.14 supports simulations with sub-hourly weather data for time steps up to one-minute, so you should be fine. You should use the SAM CSV file format for those simulations.