I have been messing around with a 5 frame nuc setup for queen rearing. MY friend Mike at North American Beehive in Jacksonville made me a couple of 5 frame double hive bodies with a very nice cloake board and excluder entrance. My goal is to produce some high quality queens from my mixed stock. I began using this system last year and had some good results, my goal was to produce 24 queens from each batch of grafts. The second batch of this years queens are in the queenless compartment, and I will remove the cloake board and close off the bottom entrance in the morning. Upon inspection last evening my take rate is good, and for my operation the system is working wonderfully.
I would suggest this method and size hive for your own queen rearing, There are several benefits to using this smaller setup. One benefit is the handling ability of the nuc vs the full size hive body. Queen locating is much easier, and it provides for easy management. Don't be worried about making sure you have enough bees in the nuc cloake method, as of last evening I had a 90% acceptance rate of the cells. This works great, and you new queen rearers should consider this method.