Almost every forest in Europe is at least 2nd or 3rd generation, meaning most have at some point been cut down or transformed by humans during their habitation of the land.
Forests and other environments actually can grow back at a pace that's much more accelerated than people generally believe it to be. The main reason scientists and ecologists oppose deforestation is because this can kill off species which have reduced habits and will not live long enough to endure the time period it will take the habitat to recuperate.
In this respect plants are a bit more resilient than some animals.
Don't take me wrong, I'm not promoting cutting down every tree in sight, but forests and the like can and do grow back in less than a generation if they have appropiate conditions (ie, the terrain wasn't so terribly abused that it turned into an arid desert like has happened in parts of africa)
As far as yielding forests in 5 years, it depends on what type of trees you are trying to grow. Certain species have very accelerated rates of growth and can easily replenish an area in 5 years. With other species thrown into the mix to add variety.
Honestly though, the paper industry wouldn't work if it took more than 5 years to replenish the trees they use for their business. Climate conditions also affect these growth rates greatly, parts of the world where plants are relegated to only a few months of growth per year will obviously grow at a slower pace. Coming from a tropical country where conditions are prime for all sorts of plant growth year round, plants will grow at an accelerated rate in comparison to territorities in the northern latitudes.
But, seeing as Civ3 does not implement any sort of weather system based on latitude, expect these variations is unrealistic.
But definitely, being able to harvest a forest only once is pretty ludicrous in realistic terms.
As far as Park Ranger mentioning that it is not economically viable to harvest a planted area, I'd have to disagree. Thinning or trimming an area that has extended its intended perimeter will probably be of little economic impact as its more of a maintainance chore than a full blown exploitation of the terrain.
For a comparable analogy you'd have to look at the exploitation of forests in brazil and other areas where full blown exploitation of the terrain with the desire to leave the land barren of trees is the goal. In these areas it is commercially viable, and of course there's very little regard to harming other trees in the vicinity
