You might want to consider Millium effusum 'Aureum.'

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Most resources list it as zone 6, but a few call it to zone 5. It likes moist semi-shade conditions, and can be grown from seed.

Laura,
I looked at the image on the Fairweather Garden's site ~ gorgeous. However, it would take you many pots of Hakonechloa & several years to get an effect anything like that. Why not treat yourself to a couple of pots/plugs and make a start in one little section. It really is a grass worth having. I grow mine both in the garden and in pots on the patio.
As for the Miscanthus,
I can tell you from experience that M. 'Morning Light' & M. Variegatus will grow under less than optimal light conditions ~ but will be MUCH smaller than when grown in full sun.
As for the Cosmopolitan & Cabaret ~ in my zone 5 garden these grasses are only marginally hardy. Some years I loose them & some years they survive AND they never, never amount to much :o(

So ... how about a M. Variegatus combined with 2 or 3 Hakonechloas ?

A.

Hakone is a beautiful grass but very slow growing. I bought some a couple of years ago, and divided them to get more plants. Big mistake. The divisions are barely larger now than when I bought them. It does well in the shade, however, which is unusual for grasses.

The Miscanthus varieties you listed are very different in size, form and growth than Hakone. They will grow much faster and taller than Hakone, but won't tolerate as much shade. I have several Miscanthus varieties, and "Adagio" has grown very well for me in semi-shaded locations -- it thrives, actually, and quickly reaches a nice size (2x2').

Another very nice grass that grows well in the shade is River Oats, Chasmanthium latifolium. It has more of an upright habit than Hakone and is much taller. Leaves are very pretty and almost bamboo-like in appearance. This is one of my favorite ornamental grasses, and it is quick to establish. It can reseed, heavily, however, so you need to either remove the seedheads in the fall or be prepared to do a lot of weeding next spring.

Thanks for the input.. I think that I am going to try a bit of all of them and see what I like the best.. Here in Michigan the nursery that I frequent does not have them out yet so..I have to wait... I like the variagated a bit more but I am going to give them all a try and see what works best...

One of my favorite subs for Hakonechloa is Carex muskingumensis 'Ice Fountains', much faster growing and easier divisable.

I have seen Hakone at Home Depot for cheap. Later in the year though. I've killed several of them, they just don't do well for me although they do well here. Frustrating because they are soooo gorgeous when well grown.

I have Miscanthus 'Morning Light' in early morning sun only and it does fine. It doesn't bloom much but the foliage is pretty so I don't care. It is between 4-5' high and about 18" across at the base after four years from a gallon pot. Not huge but perfect for the site.