Late seeing this, surprised KEF hadn't replied.
There is no way the new R11 would be better than a Reference 5. True that the new R11 gets closer than the R900, but it's still not in the same league at all.
If you have the budget, just order the Reference 5 and live without regret. Or, Blade 2.
KEF R500, R200C, R100, R50, SVS SB2000 sub, NAD T758v3 AVR, Pro-Ject RPM1 TT w/ Ortofon 2M Red, Bluesound Vault2, LG UP875 4K BlueRay, Samsung UN55JU6500F 4K LED TV, KEF M500 headphones, Sony CDP-CE500 CD changer. Desktop: NAD M10, KEF LS50, KEF Kube 10b. Guest room: Hafler 200 L-R, KEF reference Model 100 center, KEF iQ10 surrounds, M&K V-90 sub.