The 8691SF is supported in 5.x, but only with the 256MB memory upgrade kit. The memory upgrade cost an awful lot for what should be some fairly cheap memory, but we thought it best to go for the supported, Nortel certified path.
However, the 8691SF isn't supported in 7.x or presumably any future versions.
We've used 5.0.0.0 and now 5.1.1.1. I haven't noticed a problem in terms of CPU load, but we're not running SMLT or anything advanced across it, just Layer 3 static routing. I don't think I've ever seen it above 10% utilisation.