Front Wing

If the rront wing was raised above the nose to a height of say 5 feet, on sturdy supports, not the type they used in the 60's, what effect would it have on downforce, and would it have any effect when following another car closely

It would depend on where the wing stalks would be mounted to? It would have to be mounted away from the suspension unless the car had rock hard springs/dampers!

It would allow the cars to get into more turbulent air but that also depends on the underside of the car too! a straight floor could cause "flipping" like the CLR Mercedes....

Do I need to go on?

So you would need some osrt of venturi under the car to keep it level

Yes, or a very big splitter

The turbulent air behind a f1 car rises high behind the car (as high as the tunnels roof at monaco for instance). Having a front wing so far up could still hit the flow and be affected, but as the wing would have no ground effect it would be slightly less sensitive to the turbulence.

Like Scarbs mentioned turbulence is a problem even "high up" in 1996 Adrian Newey mention on the Eurosport F1 Magazine that running in the tunnel at Monaco can be a problem because of the turbulence being "reflected" of the ceiling.

The wing struts would increase the turbulence of air passing over your car and increase your COG. The wing should be as near the ground as possible, according to the latest thinking from F1 designers.
But the biggest problem would be that it would be enormously ugly.