In a similar vein, I'd recommend http://www.hackernewsletter.com/. I subscribed a few weeks ago and have enjoyed it quite a bit. An example of their latest newsletter: http://us1.campaign-archive2.com/?u=faa8eb4ef3a111cef92c4f3d...

But how do you choose which ones are top 5? based on votes?

Yes! This will be based on the total votes!

Always articles drop in different categories: Web, news, hardware, security , ... Don't you want to categorize articles and send top 5 in each categorize? For example a person just care about web article. So send top 5 in web category to him.

Receive top 5 links from Hacker News everyday!