John, you're right I think.
When the same density/PPI (pores per inch) is considered, foam is foam. It will have the same surface area.
The only things that you cold swap up would be putting in larger-pore foam first to trap larger debris (and allow more smaller debris through) and a smaller-pore foam second (to trap finer stuff/polish the water more.
I don't have an FX5, but I think it would be a series of tradeoffs between efficiency and frequency of required cleanings.
I do think that Fluval probably spent a lot of money in R&D, getting just the right foam size for optimum performance. With that in mind, I'd probably only swap out their factory foam for economy reasons... or because I needed a new sponge and had other foam lying around.