The 555r is the old drag racing tire. Basically, the first drag radial that could be run on the street, in wet conditions(given the tire had proper tread, and the driver was extremely careful). BFG had a drag radial before it, but you really can't drive it on the street in rain like the nitto.
I've run most of the drag radials over the years,
the N555r's(275/40/17)2-3 pairs
BFG's(1st generation- 275/40/17) 1 pair
MT(305/35/18)-1 pair
The nittos and BFG's were on mustangs. I liked the BFG's over the nittos, and the MT's over the BFG's.
The NTO5 is a new, softer compound, but not an R compound tire like the 555r, BFG DR, or MT ET street radial II. The NT05R, is an R compound tire.
The Nitto 555r's will be sticker than the NT05's, but not the NT05R's. The NT05R's is basically an advance in traction, but you sacrifice treadwear and I wouldn't want to drive in the rain with them.
The only tire that I would drive in the rain, would be the NT05's, 555's, or NT555r's(but use common sense with these).
I'm going to run Toyo R888's(R compound on the street), and go back to MT ET street radial II's for the track.