Do I still need to install GAPPS if I want to use the new Cyanogenmod Android 5.0 rom? I was just about to flash the latest the build for Cyanogenmod, but then I remembered from past phones where I flashed new ROMs, that I needed to install the latest Google Apps file. However, when I went to see if I can download the latest I see that there is not a full build for it (unless I read it wrong). 

Do I need still need to install GAPPS if I want to use the new Cyanogenmod Android 5.0 ROM?

Since the build is not complete for GAPPS should I wait?

GAPPS forum on XDA
You don't need to install Gapps to use Cyanogenmod, you can install it and use it without them.

If your real question is "do I need to install Gapps if I want to comfortable install all my favorite apps from the playstore?" then the answer is probably yes.