So the G5 would be more versatile should I need to have either VHF or UHF?
With the G5, you choose one secondary band, which can be either VHF or one of three different sub-bands of UHF. Whichever you choose, it uses an internal antenna. VHF performance is generally regarded as mediocre. I'm not sure how UHF performance is, really. I have a VHF G5, but I really never use the VHF band. I'd get the G4 (less expensive) if I was starting over.
How many system talkgroups can be programmed? I understand I can only listen to one at a time correct?
You can monitor one P25 trunked system ("scanning" multiple talkgroups within that system, but you'll be locked onto one site at a time), or you can scan multiple conventional (non-trunked) FM or P25 (or DMR, if you pay for the upgrade) systems.
You can define up to 8192 talkgroups. You have 8 "knob positions" (using the select knob on top of the radio), and up to 64 "zones". Each zone is a set of knob positions. So you can have 8x64=512 different "collections of stuff to listen to" for the user to select from.