First things first:
I listened to this from a very good burn job, which means that I'm hearing just the CD layer. Obviously, the CD layer is in DSD.
I would give this a 7/8 or 8/8 ranking (the "boomy" bass is a bit of a problem).
My favorite recordings of M5 are Karajan; Marcus Stenz (ABC Classics); Chailly; Tennstedt/NYPO (from the NYPO Mahler box); Edo De Waart (RCA); Slatkin/SLSO (from one of the St. Louis S.O. boxes); Kubelik (DG or Audite). I do not enjoy the Barbirolli one as much as many other folks do, but acknowledge that it's quite good.
I do like the Boulez/VPO M5, which many folks think is quite boring. I would not rate it as highly as the ones I mention above. I'm also looking forward to the upcoming Jansons/Concertgebouw M5.
Because I did not capture timing numbers, I'll have to refer to specific spots from the score.
Summary: this is a well recorded performance - with the exception of a very "boomy" acoustic around the double basses - that is short on rhetoric but tall on sheer musicality. In this singular regard, it's quite consistent with first four releases from Zinman. "Short on rhetoric" means that it's somewhat under-tempo here and there, and that it's slightly underplayed in spots as well. However, the crux of the symphony, which is the reprise of the big brass chorale towards the end of the finale, IS a bit of a misfire - just as David explained. I didn't find it quite as bothersome as Dave did, but I'll explain in greater detail below.
Sound and balances: Remember, this is from the cd layer. On my machine, balances were pretty good. The woodwinds were very present, which I like. Trombones and trumpets could have cut through more here and there, but there were spots where Zinman drew them out as well (Trombones 1 & 2 at two bars before rehearsal figure 34, truly sound fortissimo!). I thought that the percussion balances were generally good. To my ears, the cellos didn't sound excessive, but the double basses were very "boomy". The tuba was quite present as well. I think the boomy low end might have affected Zinman's choice of tempi.
Mvt. I: I thought this one of the best movements in the performance. It was much "bigger bone" sounding that I had expected it to be. I liked the fact I could finally hear all of the soft percussion underneath the slower, funereal episodes. I had no trouble hearing the "muted" snare drum, for example. The fast, "break out" section didn't strike me as being under powered (then I again, I like the Boulez, which many people thought was a non-happening too). rating: 9/8.
Mvt. II: We could debate all day just exactly what, "with vehemence" means in terms of tempi. I do think that it is a bit under-tempo, but we don't have actual metronome markings from Mahler (or do we?). However, I did like how Zinman handled some of the tempo relationships in the last half of the movement, leading up to the first sounding of the big chorale tune. Since Zinman starts the movement relatively slow, he sounds a bit under tempo at figure 18 (the spot with the solo bass drum strokes, just after where the triangle and timpani go nuts for a few beats). However, he keeps the same exact tempo at figure 20, which is the spot where so many overly excited conductors lose speed. Then at the double bar located just shortly after rehearsal 20, Mahler makes this curious indication: "Somewhat slower (but don't drag)". Zinman is careful not to turn "somewhat slower" into "much slower". After rehearsal figure 22, Zinman doesn't turn Mahler's "don't drag" into an accellerando, as so many conductors do there. Nor does he slow down much after figure 23, where Mahler writes "don't rush". In other words, Zinman takes Mahler's numerous "don't rush" and "don't drag" indications at face value, minimizing tempo contrasts through these passages that, actually, aren't asking for extreme contrasts. Along with careful rhythms and careful phrasing, this is what I mean by "short on rhetoric; tall on musicality". Without metronome markings, we really don't know just how much Zinman is off-the-mark throughout this movement. Then again, Bruno Walter was VERY fast from beginning to end. Rating: 7/8.
Mvt. III: Again, tempi are generally on the slow side. But like more and more conductors these days, Zinman places his solo horn at the front of the orchestra. It's greatly a matter of taste, but I like it. The coda is much slower than usual -especially compared to Karajan - but you can also hear the details very clearly. It's very "Brucknerian", in a sort of weird way. Frankly, it doesn't really bother me that much. I thought that all of the solo horn passages went very well. Rating: 8/8 (mostly because of the fine horn solos).
Adagietto: Look, all I do is listen to the start - to see if there's enough harp in the mix or not (there is) - and then jump to the climax near the end. Because the sound is so "boomy" around the double basses, they absolutely nail their low "F" that resolves the harmony at the end of the climax (just three bars before the very end). As David has pointed out previously, the basses aren't marked to get really soft until AFTER the harmony is resolved. Rating: 8/8 (but I cheated!!).
Finale: This is the crux of the symphony - what everything eventually leads up to. I liked all of Zinman's finale until rehearsal figure 32, where Zinman takes off with the tempo too much, and his trumpets and trombones are closer to sounding mezzo-forte than an actual forte (but they're not to play fortissimo here!). This is Zinman's biggest miscalculation here. As a result, at figure 33, he's not able to execute Mahler's "sehr drangend" (really take off!) request because he's already going very fast. However, you do hear the all-important bass drum stroke at figure 33 (in many recordings you don't because the timpani also enter there, but at fortissimo - the bass drum is marked only forte). However, Zinman does bring his trumpets and trombones back up to a full fortissimo for the reprise of the chorale tune, which is the "Pesante" located seven bars after 33. Great fortissimo cymbal crash there, by the way. I also liked how Zinman brought out the sort of pious or "Protestant" sounding trombone lick, just before the coda (as mentioned above). At the coda, Zinman saves his accellerando until much closer to the end than usual. It's kind of strange - very different - but it didn't really bother me that much either. I could see how many people would hate that.
Rating: 7/8 (1/8 between figure 32 and the Pesante after 33).
So yes, Zinman makes a pretty big miscalculation before the reprise of the brass chorale tune. He simply pushes too fast/too soon, and his brass can't keep their volume up (which might have been deliberate, I don't know). However, this is nowhere as awful as what James De Priest did (Naxos), which was to slow down way, way, WAAAAAY too soon (it happens before rehearsal 32, which is where the trombones do their descending scales, and the horns do their "whooping", fanfare-like figures).
So far, I think that symphonies 1 and 3 have been the best in Zinman's Zurich cycle (I predicted that, actually). The "Resurrection" is very straight forward - almost too plain, really - but has great bells at the end (good organ, too). His 4th was very good for the first three movements - excellent climax to the slow movement, by the way - but Orgonasova was a bit of a let-down in the last movement.
Now bring on the Jansons. Maybe he'll get it all right.