Ok, I'm going to go against the norm here. It sounds like your 5 year old is just being a FIVE year old. ADD and the likes are SO over diagnosed, by both school systems AND pediatricians. Why is it the USA is the only country with this kind of epidemic of overactive children? He's five. He's supposed to be crazy and have the attention span of a gnat. I'm not saying it doesnt' exist to a certain degree, but please look at ALL the other ways to remedy it before drugging him up.
Ok, with that said, one of the things I've learned with my crazy four year old, is to catch him in the act of being good. And to praise the heck out of him when he does do something good. Because with a little one, compared to no attention, negative attention can't be all that bad. So REALLY work on catching him in the act so he experiences praise as often as possible. He'll find that he likes that MUCH better than losing something.
Also, you can't just take something away. Because, as you've experienced, some things just don't mean that much to him. You need to find his 'currency'. What does he hold dear, and treasure beyond belief? For my son, it can be a special dvd or a bit of ice cream at night. He LOVES his ice cream. So if everyone else gets a bit and he doesn't? holy cow, that has an impact.
Finally, help focus al of that energy! My friend recommended for my son to start taking him to Chi Quong classes. It's about intentional movement. He needs to slow down, focus, and learn about being disciplined.
Good luck and keep at it!