Any breakout should be able to do 5 axis but that will wipe out all of your outputs as there are only 10 on a parallel port. If you need more you are best to get 2 breakouts and get yourself a PCI Parallel port as a second port for Mach.
Why do you need 5 anyway? you say X Y Z and A (rotary table) then say MPG, a MPG would use 2 Inputs and not outputs.
Are you planning on using servos or steppers? if steppers you dont need encoders. If you are using servos the motors you get may have encoders already fitted, if not then have a look at the ones from US Digital, I think thats what a lot of the guys here use, 500ppr is about the norm.
Hood
OOPS, there are 12 Outs