Exhausting all 120 permutations of the set yields the set of values:
37,38,40,42,43,45,47,48
Recommended: use a computer
Not recommended: do it by hand
From which it is clear the maximum value is 48.
The 10 sets (each set cycles around 5 times and can be traversed in two directions so we expect the total number of sets which generate any value to be a multiple of 10) are:
{1, 2, 4, 5, 3} {1, 3, 5, 4, 2} {2, 1, 3, 5, 4} {2, 4, 5, 3, 1} {3, 1, 2, 4, 5} {3, 5, 4, 2, 1} {4, 2, 1, 3, 5} {4, 5, 3, 1, 2} {5, 3, 1, 2, 4} {5, 4, 2, 1, 3}
These sets are in fact the same Euler Path traversed on a pentatope with the edges designated the values of the pairwise products and the vertices designated the set members, just in both directions and cycled through all start/end vertices.