You want the 5" backing plate so you can turn and churn 5.5" pads.
Smaller pads fit the body panels better than 6.5" pads. Keep in mind, you're not supposed to buff on edges or raised body lines, thus smaller pads FIT the different shapes of panels on modern cars better than larger pads.
Smaller, thinner pads rotate better than larger thicker pads (in most cases), so you'll get better correction and polishing action from smaller pads.
Also - just to note - the NAME --> Griot's Garage 6" Random Orbital Polisher - the 6 means it comes with a 6" backing plate. They could have just as easily included a 5" backing plate and then called it the Griot's Garage 5" Random Orbital Polisher.
I have sent more than one e-mail to Griot's recommending they change this tool to come with 5" pads and then also change the box graphics and all marketing materials to reflect this change to no avail. Keep in mind, just last weekend I was teaching a class AT Griot's Garage and we used the Griot's Garage 6" Random Orbital Polishers and we put 5" backing plates on all of them except when machine sanding.
Also, here's an article I wrote about this tool, it is FULL of TONS of INFORMATION and a video that will make learning how to use this tool easy.
Here's what you need to get into machine polishing - Recommendations for a beginner by Mike Phillips
Hope that helps....
Also for what it's worth, I've used all the tools everyone is talking about in this thread and probably more, and when I need to knock a car out fast, (and that's most of the time), I always grab the BEAST. I always say in my classes,
"The little things are the big things"
And I find 8mm gear-driven orbital to do more correction faster than 5mm gear drive orbitals. I find 5mm gear-driven to be smoother, but not faster. Again, I've used them all and I'm all about speed with top notch quality.