I am running a Procharged 454 with iron Gen 4 heads on a Gen V block and 5 psi of boost. Wondering do I run a MLS gasket, either Cometic or Felpro or run the Felpro 1037 performance gaskets? Next question is, Cometic or Felpro if the plan is MLS and why?

MLS, Tried both, had better luck with the Felpro

You could probably get away with the standard Fel Pro, but either of the MLS gaskets would be cheap insurance.
Eddie

My understanding is that you have to make sure you have the proper finish on the deck and head surfaces to run the MLS gaskets. Most MLS gaskets need an RA finish of around 20-30. I don't think it is an issue very often with modern milling equipment that most shops use now, but something to be aware of.

Spot on. My machinist asked me if I was going to run Cometics,( which I was) for this very reason, regarding RA on the block. I'm also using ARP head studs, which compliment a MLS head gasket nicely. Money well spent IMO.