Having had a search across the Internet to try and get to the bottom of the whole DM-5R saga I have found information across the Internet suggesting it exists, a Dutch Amateur operator put up an unboxing video on to YouTube and a British person had ordered one to find out if it was indeed real or not, something I will be following up in the next few days.
It is beginning to look like it in fact does exist and Baofeng have made it, however I don't feel foolish for dismissing its existence because it looks so much like a UV-5R to be believable, most DMRs have a larger display, not the sort seen on the UV-5R, the radio is not of much use to me until of course it supports Tier 2, sure I could use analogue but I would be better off just buying another HT, which I did anyway with the GT-5 to replace my UV-5RC Plus, happily as the DM-5R is so much similar to the UV-5R I can theoretically use my battery eliminator on it and swap the battery to the UV-5RC Plus, I plan only to order this radio when the firmware is modified to support Tier 2, this could be a while.
So, it looks to me like this radio may well be real after all.
73 de M6RSQ
Update: YouTube user 'Ringway Manchester' has got hold of this radio, he has done an unboxing and also gone through the radio's menus, there are DMR related items in the menus, I am satisfied this radio exists, thus closing the saga of the Baofeng DM-5R, I will wait for the firmware to support Tier 2 before placing an order, as it is not really much use to me as Tier 1