I heard that the largest moon of "our" lifetime will occur May 5, 2012. Ture? If so, what time is moonrise predicted?

The moon stays the same size all of the time. What you are referring to is know as a moon illusion, it only appears bigger, kind of like a rising and setting sun. Super Moon of 2012 by Dennis Mammana on Creators.com - A Syndicate Of Talent