Okay, let me start by saying i don't know the details of the md5 model file format.
However note this, the process of loading (reading the model from the file, parsing, etc) is independent of any graphics API.
The only things you have to do differently is the storage of the model data (vertices, normals, texture coordinates, etc) which could be stored in regular arrays if you used the old OpenGL (and then you'd draw each face with glBegin()/glEnd() calls). On the other hand if you want to use the newer OpenGL, you can use VBOs to store them (with conjunction with VAO) and then drawing with glDrawArrays(), for example.
The differences in rendering have already been explained, for old regular arrays of vertices, normals, tex coords, use the glBegin()/glEnd() calls, and for the newer OpenGL, you have to use VBOs.
Note that, for simplicity, i didn't mention anything about animation (either frame based or skeletal).
Now for not using GLUT.
The main use of GLUT (for me, at least) is that creating a OpenGL window is very easy. However it heavily limits what you can do with it (normal, because it's supposed to be simple). So you can't use GLUT to create a OpenGL3.x or newer (not entirely sure, but close).
As beans222 said, you can use that website for all kind of information, and even if you don't use GLUT, most of what is explained there will work either way. The only thing you must create on your own is the OpenGL3.x (4.x) window. You can go to http://www.opengl.org/wiki/Creating_an_OpenGL_Context_(WGL) for information on how to do it, if you're using Windows.
The rest is up to you, however keep this in mind:
The newer OpenGL has deprecated the old matrix transformation functions, so you MUST use your own math library (glm does a very good job here, has it recreates the OpenGL matrix functions).
This may not be exactly what you want, and if you don't know how to use the newer OpenGL yet (if you haven't worked with shaders, VBOs, VAOs, etc), then i suggest you take a look at some tutorials first because rendering in newer OpenGL is quite different from the old fixed pipeline.