I don't think it's big enough. It would only leave you 10" on either side of the table and only 12" on the end, meaning your chairs would constantly be 'falling off'. I think you need an 8x10.

Sorry, I know when we were shopping for rugs we were constantly hoping to get away with smaller ones because of more options / less money.

agreed, guests do not want to be balancing their chairs on two different floor levels

No experience in this area, but I thought the rug size should be scaled to the room rather than the table.

I seem to remember reading that you must add something like 54" to the width of your table to determine the rug size. 27" on each side for the chairs.

I don't think 5 x 8 is big enough. Our table is very close to yours, and I've mocked up rug sizes. The chairs come off the rug when you pull them off with a 5 x 8. What is messing me up is that my table is in a bay window, which is angled. I can't possible fit anything larger in it. You could try a 6 x 9, which some places carry (I'm pretty sure Ballard Designs does). I think the internet has sites that talk about this kinda thing, you can google it. Btw, when can we have a peek at your kitchen? Best to you!!

Thanks for the responses...I agree that 5X8 is too small. I am going to measure it all out because I think 8X10 is going to be too large. We have a dining area that is right next to the kitchen and I have an antique hutch in the room that is taking up space. The hutch has to be there...it can't go anywhere else. AND, I need a rug under the table for lots of reasons: sound absorption and to break up all the wood we have going on with the table, hutch, and wood floor...I will check out Ballard Designs for a 6X9 or 7X9

Lakegirl-As soon as I can get some pictures uploaded. I am not very good at that! We are just getting moved in, but I promise to post pics! Oh, I got my cabinet hardware in yesterday, so DH is going to be busy setting those...
Thanks for asking!
Capegirl