I am a beginner with Mikrotik Products.

I set up a link with the Wireless Wire Cube kit. How does it handle vlans? Will it behave like a cable that just takes whatever comes into one end and sends it out in the other end? So any tagged or untagged ethernet packet will just pass over the link? If not, do i need to set the cubes to be vlan aware?

Out of the box CUBE works like a dump switch, passing all tagged and untagged traffic just as is. No need to make CUBE VLAN aware.

Think of the link between the cubes as somebody hands you an ethernet patch cord. ITS TRANSPARENT. The two devices at the ends of the patch cords (cubes) do all the communicating.

Thanks Guys! I also figured that out actually. The cubes are behaving lika a cable between two switches. Great product, getting 1.5Gbps between the antennas @ 200m range. They should have been equipped with 10Gbit Ethernet.

Another thing, is there an easy way to test the performance of the 5GHz failover link?

Test 5GHz ? .... just disable one 60GHz interface.

5 GHz is single stream (1S) , not very strong in performance. 200Mbps for 40MHz, 433Mbps for 80MHz is max interface rate at MCS 9 in one direction.. (60 GHz is 2310Mbps)
viewtopic.php?t=181541#p899914 . Not clear if 60GHz has the same extensive 802.11 channel access overhead as the 5 GHz.
5 GHz can be set to nv2 protocol.

I gather the advantage of 5ghz in this setup is that at least its using directional antennas both ends?
What would nv2 provide over the normal protocol for this scenario??

Why nv2?

NV2 is an option. " Can be set ..." Depending on the environment that option can improve the link quality and stability, and will not wait for 802.11 signals.
One of the reasons to use CUBE (60 GHz) is because one has to work in a crowded 5 GHz environment.
In such an environment NV2 has some advantages: viewtopic.php?t=177925#p875622 , viewtopic.php?&f=7&p=838112#p838112

The 11.5 dBi 5 GHz antenna of the CUBE is not documented for its RF directional spectrum.
Comparing with other similar antenna even with higher dBi the receive angle with signal amplification can be quite wide. But I have no numbers.
If 802.11 suffers from CCA waits , or if the CCQ is below 90% , NV2 can improve.