I think that regardless of groundwater temp, bigger is better.
Well Shorty, from MN guess there are two grounwater temps...flowing and frozen. The boys in FL are fighting a whole different battle, down south they only bury the water lines about a foot or so as there is no frost. Summer months the tapwater flows like soup, and even a hundred foot IC won't be of much use.
50' is probably overkill for 5 gallon batches, since it'll probably stick out of the wort some. I bought 50' of tubing, made a 35' IC and a 15' pre-chiller. Works great.