I can honestly say that even with Orbx Global base textures and openLC that P3D v5 is starting to look very nice. I can use this alone for IFR flying tubeliners. But for VFR and general aviation True Earth is a must. With Orbx full regions being in between the 2, I don't really see a reason for them anymore, can anyone tell me what added benefits that I would get from using an Orbx full region vs using Orbx Global Base with openLC?

If you do a lot of flying in the western US like I do those regions are a must imo.  I find that open LC does a great job with the eastern US and canada as well as europe but just doesn't cut it with the western US especially in areas that have desert textures.  I use photoscenery for West TX, NM, AZ, NV, UT, and much of CO because without it openLC still looks very poor in those states.  But I find that having socal, norcal, PNW, NRM, and CRM are just as good or better than having photoscenery in the areas they cover, especially because you get seasons and autogen. What they did with the desert in socal looks great imo.  There aren't any true earth sceneries for these areas so regions are still relevant.     I really wish orbx would have given us a southern rockies region!