Is it wrong?

It takes the brain at least 10 minutes to know that you are full. So waiting 5 minutes will not hurt him.

No. as long as you feed him when he 'tells' you he's still hungry then there is no problem.

I, personally, would not make him wait. His nursing is what stimulates your supply, so the pacifier use can cause a bit of an issue, be it slight. I always recommend nursing on demand, but you have to do what works best for you.

No, he'll be fine

The reason I give him the paci is because if I let him go for as long as he wants he ends up just suckling and I will continue to give him milk while he does that to where he over feeds himself and throws all over both of us. So I figured that if he just wants the sucking motion then it was better to give a paci than to continually over feed him. I still keep him close to my chest for the skin to skin contact that he wants while he has it.

Definitely burp after each boob. That might be why he spits up. The lactation consultants told me to always offer both boobs. I'd rather have a full baby than a hungry one. Just nurse on demand and as he gets older he'll know when he's finished and full. But if he doesn't nurse from one side go ahead and pump on that side so you will keep making enough milk.. Even if you don't bottle feed breast milk you can freeze it and then use it when he eats cereal.