It could still have the impact that a 3 or 4 would have because of the size of this sucker.
When you take in to consideration the size of the storm, how slow it's moving, and the larger than usual storm surge it will produce, the impact would be about the same as a Cat 3 or Cat 4 storm IMO.
It's also going to be Full moon Monday so the tides are going to be at their max.