Preheat oven to 350 degrees F and fit roasting pan with a rack. Set aside.
In a small bowl, combine olive oil, Dijon mustard, garlic, rosemary, thyme, salt and pepper. Mix well with a spoon.
Pat dry leg of lamb with paper towels and make shallow cuts on top in a diamond pattern. Place on previously prepared baking rack and rub mixture mostly on top and covering the sides and bottom a bit.
Bake leg of lamb uncovered according below timechart until desired doneness. Remember meat will keep "cooking" as it rests.°Medium Rare: 130 - 135 degrees F internal temperature - about 20 minutes/lb.°Medium Well: 140 - 145 F internal temperature - about 25 minutes/lb.°Well-Done: 150 - 155 F internal temperature - about 30 minutes/lb.
My best advice for 5 lbs leg of lamb is to check internal temperature after 1 hour and go from there. For 2-3 lbs leg of lamb, check after 45 minutes. It all comes down to checking often after a certain period of time towards the end. You can also broil it for a bit at the end.
Remove lamb roast from the oven and let rest uncovered for 15 minutes.
Using a sharp knife, slice leg of lamb perpendicular to the bone starting with the meaty part most accessible to you. No hard rules.
Serve roasted leg of lamb warm at a celebration table or use cold leftovers in sandwiches or salads.
Notes
Store: Refrigerate leftover sliced roast in an airtight container for up to 5 days. It tastes so good cold.
Freeze: Freeze leftovers sliced or cut into bite sized pieces in an airtight container for up to 3 months. Thaw in refrigerator.
Reheat: To avoid over drying, reheat at 350 F in the oven while covered in a baking dish.
If you would like to add baby potatoes, toss them with some olive oil, salt and pepper and spread around the lamb roast 45 minutes before expected finish time. Just do it with lamb out of the oven so you don't let all the heat escape with oven door open.