Vira,
Yes - although the track was essentially south (it being coastal), it was 185 degrees magnetic so the cruising altitude was correct for the hemisphere, though as you say there is no requirement below 5000 in G (and I must admit I don't always travel at the recommended steps below this level). My altitude was what ATC had previously assigned me as I had just left class C, on the same heading.
I descended 1000ft quickly, but wasn't there by the time they passed overhead. I think there was at least 500ft separation by then, probably more like 700ft.