well, it's not that simple
and I even found a new setting yesterday for a 1bit alpha DXT5...
Well DXT1 files are basically 4 times smaller than equivalent DXT5 ones (due to compresion algorythms, no or 1bit alpha mask basically).
DXT1 only support opaque or 1 bit alpha mask (meaning some 1 pixels could be 100% opaque or 100% transparent and no trade off).
DXT5 support 8bit transparency (256 shades of transparency) or 1bit (as I discovered lately).
All in all and particular in GP4, using DXT5 textures could some times lead to some weird objects front to others when they should be backwards. In such case, DXT1 should be used instead of DXT5 as a first fix.