ok
5 pounds is about 5 bucks right?
so your basically hosting a sng..
make sure the chips add up to 5 bucks/pounds total, use .5/.10.25 and .1 for chips. usually the lighter the color the lower the value, doesnt make any difference either way.
rebuys arent a bad thing, thats why you should make the chips equal whatever the buy in is.
as for blinds, if you start with .1/.2 or .2/.4 you can raise each time a player is eliminated or for a quicker game, raise them say, every fifteen minutes.
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