I did not bleed since 2016 and use my p5 heavily, but I have following tips:
1.) adjust the adjustment- screw but do not screw it in too much because if it falls out on the back you're heavily f*cked.
2.) adjust the brake-pads.

If your lever leaks that's a huge problem, adressed by the following thread:

https://forum.slowtwitch.com/...ring=magura#p6728330

Yes, the oily feel is the mineral oil that is slowly leaking. I'm not sure if it's possible to tell, but it could be from the barbed connection to the hose, or somewhere else in the lever.

It's relatively common to have leaks between the hose and barbed end of the lever. In a quick fix, you can simply bleed the brake and it should work fine (unless the leak is particularly bad). It might require checking the connections to the lever, replacing the hose (which is a huge pain in the ass with these magura levers), or worst case, replacing the whole lever.

I liked the functionality of magura levers, but the unique hose and difficulty of installation really turned me off of them.

Many thanks. Im sure bleeding them will sort it but dont want to have to bleed them too often. I suppose I must have a small leak.

Did you rreplace them then? If so what with?
When they are set up properly, they work really well but having to bleed them regualry could be a pain

I forgot in my post #2 this possiblity of the leak between the barbed end of the leverconnection to the hose. It is possible to repair that in connecting a new hose to the lever, I have done that but it is not so easy: you need a jig and have to hammer the connection into the hose which is helt in a work bench. There is a good manual for that in the internet, I think with Magura.

The other possiblity is a leaking seal within the lever for which I indicated the thread in post #2 which is about exchanging that seal.

At least bleeding these breaks is as simple as it gets.

As 'longtrousers' also mentioned, the adjustment screw can also be very useful. Back it out before bleeding. If you ever feel that there is too much travel 'growing' in the lever, simply screw in the adjustment screw until you get that firmness that you want. ...of course, this is all just a temporary fix.

My problematic Magura brakes were on a P3, so replacing them was pretty straight forward (any brake will work). In my case, It was really just a matter of replacing the hose.

I did a lot of work on a friend's P5 (thankfully, his brakes never had a leak). I took a close look at what else might work and it seems that some have been able to successfully adapt the TriRig brake to the P5. It seems like you'd need to do some creative DIY work to attach the beard to the brake, but it doesn't look too hard to do.

Yeah, I've done this and I call bullshit on how 'easy' connecting a new hose looks on the following video.

https://www.youtube.com/watch?v=pdFj3p-V1a0

There's no "adaptation" necessary. Omega One comes with everything you need to mount the brake to a P5, front or rear. And if you add our Delta cover, you can skip any Magura cover work and get an even cleaner setup, like some folks did in this gallery (some of those are P2/P3 frames, which are the same frame for the front half).

Example:

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TriRig.com

I apologize, by 'adapt', I really didn't mean anything more than 'install'.

Sure, adding the delta cover COULD be an easy fix, IF you have the alpha one (as per your compatibility description). So, adding a Delta cover + alpha one (in addition to the Omega) sounds like a pretty expensive solution to fix a leaky Magura brake.

I bought a nos p5-6 a few years ago, and installed tririg brakes on it. Works great. You’ll need more spacers that normal on both ends to make this work. I also modified the brake covers to attach via magnets to the front. I glued both sides together with some plastic specific epoxy and used the sugru putty to install the magnets in. It was some work but ended up looking good.

I bought a lightly used P5/6 and planned on converting to mechanical brakes when they Magura levers failed. Similar to the OP, I went to ride one day and had barely any braking power and an oily lever. I went with a tri rig and Shimano Ultegra levers and could not be happier. Its not a matter if your Magura brakes will fail, but when. Do you want to travel to your big race and then be stuck trying to find a proprietary part that is no longer made? As a bonus, the tri rig brake pads match my color scheme. Austin Tricyclist in Austin did the swap to mechanical and fit the original cover over the tri rig. Looks stock, in my opinion. If anyone wants a set of maguras for parts, PM me.

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56-11...the only way to fly

Wow thats a great job!! Did you do the back also? You have convinced me to mine-can you confirm what else i need to buy besides the brake and levers (does the omega also fit on the rear?), cheers.

I’m getting the spec on the rear brake now. I just texted the shop to ask the mechanic. My opinion is that the hydraulic rim brake was “cutting edge” for 2012 but it’s just not a great option in 2021 when the parts are not supported by the manufacturer. UPDATE: It’s a TRP brake that they make for Cervelo. It’s pretty common for people to switch to mechanical at some point.

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56-11...the only way to fly

Awesome thanks! Just to be sure was it the TRP T925.1R?

@runboorun and anyone else who has done this-how do you fit the original front cover on to the new tri rig brake? Can't see anyway to do this, do you glue it??

I put the magura covers on Omega X.
1. Glued the two magura halves together
2. Enlarge the cable slot because the magura hydraulic line enters the top further back
3. Glue the omega x cover inside the magura by shoving it as deep as it will go.

I also covered it in black vinyl so there are no magura logos or holes, and trimmed the brake arms to get the tririg brake closer to the head tube. That area is non structural, so it's not an issue. Skip this step of you want but then the cover might be a bit further forward than stock.

Here are pictures of the process:
http://imgur.com/a/E1NsGR0

Thats awesome thanks!! What type of glue did you use?

No problem. I used epoxy (JB Weld)

Austin Tricyclist did the switch and it’s held on with magnets. I have had zero issues with it

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56-11...the only way to fly