Wow, I put my post on the first day of my forced vacation (plant shutdown at short notice for financial reasons) and didn't look again while off, this one has legs.
Re 1.9.5.2 of ASME 14.5M-1994 & figure 1-56, it can't be used to fully answer this question because it doesn't address tolerance and as 1.1.4 is in force can't be readily extrapolated from the figure.
Fig 3-25 on page 49 is clearly using Basic, in this case I agree with X being the total number of spaces and = the number of holes, no tol stack up.
It's quite possible that the theoretical 'complete drawing' that 1-56 is taken from has the old "UNTOLERANCED DIMENSIONS LOCATING TRUE POSITION ARE BASIC" note somewhere we can't see or something.
I'm apparently disagreeing with several posters that are far more qualified than I, which I'm usually loathed to do but in this case, if not using basic then I can't see how 5X72 with +- tolerancing can be correct when you take tolerances into account.
As to over analyzing, no I'd say that considering the tolerance aspect is adequate analyzing. It's ignoring the tolerance aspect that is under analyzing the situation.
Given that virtually all the examples in the standard use basic/position on this type of hole pattern I disagree with the "use 5 X 72 because that's how it's always shown in the standard" argument.
5 X 72 without using basic or some other custom note/requirement leads to having two different allowable tolerances on one of the dimensions, I believe this contravenes the standard but can't quote chapter & verse. 1.4 (c) sort of addresses dual dimensioning but not explicitly. 1.7.7 is kind of relevant
Where an overall dimension is specified, one intermediate dimension is omitted or identified as a reference dimension. See Fig 1-17.
So if you consider that showing the holes in a circle implies 360° then you should leave one angular dim out, but it's perhaps a stretch.
It's not the explicit dimension scheme that is so much the concern as its implications on tolerance.
However if we're happy to ignore that then use whichever floats your boat.
KENAT, probably the least qualified checker you'll ever meet...