If you do 1-5 rep range, you're working on strength.
8-12 rep range is (supposedly) the best range for hypertrophy (i.e. getting big without large gains in strength.
Ultimately though, you need strength first b/c even if you do the 8-12 rep range, you won't get too big if you're not lifting heavy enough weight. That's why SS or a similar 5x5 workout plan is recommended for noobs as it will let you get so much bigger in the long run.
Whether or not you get big with 5x5 has been debated. some claim they got a good amount of size with 5x5 while others say they got little size. But 5x5 is for strength in the first place, so it's a moot point. I think there's a tentative consensus that with 5x5 you may not see large mass gains, but you will definitely not lose any, and that you will see mass gains to some extent.
When I did 8 reps for 3 sets per exercise, I rested from around 45seconds to a minute. With the 5x5 routine I've started, I rest around 1.5 up to 2 minutes per set. From what I've read, with heavy weights and lower reps, you need to rest longer between sets to recover.
This is what I'm doing
http://forum.bodybuilding.com/showthread.php?t=148036063
it has more exercises than Rippetoe's Starting Strength routine. Apparently a complaint with ripppetoe's SS was that there wasn't enough volume (not enough exercises/reps) for optimal hypertrophy (while conserving strength gains), so this 5x5 program throws in extra exercises at the 8 rep level, for some hypertrophy.
