JordyG - on designations, I think it comes down to two things:
1. At all levels and both genders - the relatively immobile bulk players who have range only out to 5 feet are becoming extinct - there just aren't that many around who get to the highest level within any of the various strata (HS, College, Pros, men or women.) So there just aren't enough to go around to populate traditional '5' or traditional '4' designations - the modern '5' is closer to what a stretch '4' looked like ten years ago and they sort of blend together as a 5 designation now.
2. With the limited supply of big bodies and more attention to skill over muscle in rules and style of play, more coaches are putting 3 or 4 players on the court at a time that might all have been designated as guards ten years ago, and frequently the remaining one or two players are closer to traditional '3' or '4' designations. Look no further than the ND game earlier this year to see how effective that can be.
Geno long ago did away with distinctions between '1' and '2' players - his ideal being two guards equally adept at both passing and shooting (Sue and DT), and his ideal for the other three positions would probably be Dolson, Stewart, and Moore - players that threaten to score from the arc to the rim, and who are as deadly passing as they are shooting. Dolson still retains a 4-5 designation, but Moore and Stewart really range from 4-1 in their skill sets.
In the modern game, the defensive sets more closely retain their designations than do the five offensive threat offenses. On defense you still need someone to anchor inside, and a few players who can harry the opponent ball handles up top. I find it interesting that modern full court presses though are frequently using a stretch four type player at the center top of the press - Kiah got some run in that position even, and Stewart has as well.