New Here. Going to Salt???

[Poolsean]

There's no specific code calling for 5' above ground. It's got to be 10' from the edge of the pool (for 110' volts) or 5' (220 volts), according to NEC guidelines.
I agree with not putting the controller indoor. Some will use a quick disconnect connection, rather than hard wired, so that they can remove and take the equipment indoor during the winter months.
Keep in mind that all equipment are designed for outdoor locations, but for winter snow and thaw conditions, at type of exposure would call for the need to remove and put the equipment indoor.

[BigDave]

I'm pretty sure the NEC 1999 permits placement of a recptacle for pump / circulationbetween 5' and 10' of the inner wall of the pool regardless of the voltage. As always, check with you local construction official.

[drband]

You COULD just go to an added salt pool and continue w/ BBB. The water feels better (opinion) and once you get BBB going well, your pool will reach a sort of equilibrium so that adjustments are usually minimal and you will have fewer problems keeping it balanced and sanitized. SWCG pools are not any cheaper to maintain, but may be slightly easier to keep balanced. If cost is a big factor, I would recommend sticking with regular BBB and just adding salt. You don't really need the nature2 to run a BBB pool and that is an expense you could leave off.