Gigi, actually there is another update misliliac can do.
Dell released their A12 (Or A02, using their number system. They are the same thing) update. Sync your Axim and backup all personal files (I doubt there is any). You have to use Activesync (For Windows XP), not Windows Mobile Device Center (For Windows Vista). So this update can only be done on an XP computer.
Download this file. If the update does not auto-start, go to C:\Dell\R129272\Aximupdate.exe. Then follow all the instructions given by the updater.
And yes, as Gigi mentioned, there is WM6.1 upgrades that are done by 3rd party developers. I am running them on both my x51v and x50v. To be frank, they are a lot faster than WM5. Of course, there is a risk of bricking, but of all my 10+ times bricking my device, none have ever been permanent. If you choose to upgrade to WM6.1, I will gladly assist you in the process.
LennySh (A ROM developer) will release his WM6.5 ROM very very soon, I hope. The screenshot looks absolutely phenomenal. Of course, that will be an early alpha, not suitable for regular usage. But still, drooling to install it.
