What you may like to consider is, rather than relaxing your entire MySQL5 server, just changing it on a per-session basis.
For instance, adding:
mysql_query(“set session sql_mode = ””);
to the function wpdb in wp-db.php (after the successful mysql_connect query) will effectively ignore all the disobeyed NOT NULLs in WordPress’s CREATE TABLEs, but only during a WordPress session.
Note: this is what I came up with as a solution having installed all the latest versions of Apache, PHP, MySQL and WordPress yesterday. Having never used any of the applications listed before, don’t be too hard on this solution if there’s a better one!
Cheers