Sounds like your are going to have to go a tad shorter. if your arms are longer at your height, 5 degrees is way to flat. I would think if you get measured wrist to floor for your 5 iron and base off that you would be much better for it. as for noticing that you are shorter then your old MP59's, i do believe and correct me if i am wrong that miz standard lengths are shorter then titleist by 1/4 to 1/2 inch. Also are your shafts the same. if your shafts are too stiff and your not able to load the shaft fully that will take away distance, etc. Bottom line is the right shaft with proper length (short or long) and lie angle results in better center of face contact which results in better distance and accuracy. 

Mike 

Thanks for your response, I was playing Stiff KBS Tours by FST in my MP59's  and Currently I have DG S300 in my MB's and Project X 5.5 in the CB's. I liked the KBS in the miz until I got to my 6 iron, 7-P was high ball flight and the 6-3 wasn't quite as high as I would like. I'm starting to think that if I'm gonna have to lose 1/2 to 3/4 inch of shaft to offset the amount of lie I need to drop, I probably would be better suited with the AP2 (which pretty much matched my  MP59's in distance). Any opinion on that.

During warmer playing months, My 7iron was in the 165-170 in colder months (we play as long as course is open no matter how cold.), still a respectful upper 155-160 range. Now the MB 7 iron was playing right at 150 a few days ago. Temps were in the mid 50's. I'm confused. I really don't want to drop a ton into new shafts if I may be better suited with the AP2's. 

looking at these numbers my thoughts only but MB irons are a lower flight then AP2's (titleist is very clear on this). KBS shafts from everything i have read play a little stiffer then the comparable DG shaft in flex. Another option you could look at is keeping your MB irons and soft stepping your iron shafts. Meaning 3 iron shaft in 4 iron cut to new length that you are measured for and so on. This would mean you would only need to buy 1 more shaft (2 iron shaft for 3 iron) Soft stepping will drop about 3 frequency points in the shaft flex meaning you will be playing in between regular and stiff. This will also help with your ball flight in the 3-6 iron. 
you will probably be looking at shortening your shafts a touch say 1/4 inch or so and flatten the lie angle say by 1-2.

good luck!