First off, let me say that where I work there isn't really and standard followed. We have "the way things have always been done," and "that's the way the shop likes to see it."
Therefore, I think that it would be produced the same regardless of which way it was dimensioned here.
However, without a standard I would interpret it as there should be 5 spaces at 72 deg. Additionally, I would think the dimensions being like basic, and the third hole should be (3*72) = 216 deg from vertical, +/- the angular tolerance. If the tolerance for all holes was +/-1 deg and the second hole was at 143 deg, I would not accept the third hole being at 214 degree, even though that is within the tolerance stack-up. However, without a standard I wouldn't really have a leg to stand on if it became a dispute anyways.
I guess I just feel that it is more likely to fit function if the basic positions of the holes are given, and the tolerance applied to those. It wouldn't make much sense to allow the tolerance to stackup in this case (I presume, without knowing the application). If the angular locations are taken as basic, I think 5X 72 makes more sense since it gives the complete circle. If the position is based on stacking up the tolerances from one hole to the next, this does over-define the last hole, but if they are taken as basic then it doesn't really matter.
-- MechEng2005