If you are truly attempting to upgrade from 4.1 to 5.0 (versus a re-image), the correct approach is to install the 5.0(1) Major update file using the CLI upgrade command. This will retain any configuration settings on the sensor.
The steps you describe above are to re-image your sensor using the 5.0(2) system image. I am not sure why your settings are not working. Have you assigned an IP address to the gateway? Depending on your network topology, this may be necessary. You should also try pinging your gateway or another active address on your network to see if you are even getting out of the sensor.
-Rusty