This diode is awesome, in my opinion $150 for 5w of sky blue is cheap, I just love this culour, there's a huge difference from 450 it looks twice as bright as a NDB7875, bloody awesome!!!
I got a freak set around the 5A mark will hit an on peak over 6W kind of the way the more expensive 1W will hit over 1.5W before dropping back to over 1.4W. Color is fantastic and I highly doubt I could tell the difference between it and my 80mW 473nm. Would be impossible anyways because it's not like I can give it less output as the wavelength would drop.
As for max power for safely running that comes down to personal preference. You have to decide the risk you are willing to take blowing the diode. That being said, I don't like the idea of pushing it past 5A at all. I always look at how much it would bug me if a diode blew and obviously the more expensive the more it hurts. From what I have seen if you get into building a lot of lasers you are willing to take more risk and tend to push things more as it's part of the fun. I'm sure Red will back me up on this as we both have a lovely pile of diodes to prove how much "fun" we have had. Just realize that it comes down to your decision and you have to live with it. Blaming someone else is a no no when you knew the risk going into it.
And yeah, what badboy said You don't need any kind of side by side comparison with a wavelength like this to know its not a 462nm or lower.
Turn on your 445 and see how it looks blue, then turn your 465 next to it and it looks bright blue, but your 445 now looks purplish blue, it will screw with your perception, it is a big difference, like deep sea blue vs a sky blue.