Quinary AlCoCrFeNi high entropy alloy (HEA) is one of the most studied alloys in the recent decade due to its outstanding properties. However, it is still far from becoming an applicable industrial alloy. To our understanding, in order to promote this, the role of elements, constituting the quinary alloy, needs to be defined. Knowing the role of each element, modification of the quinary alloy toward minimization of its disadvantages will be possible. In the current research, we shed some light on this subject, presenting a thorough investigation of the microstructure (carried out using scanning and transmission electron microscopy) and mechanical properties, performed by microhardness and fractography post small punch test (SPT), of five equiatomic quaternary alloys, constituting the quinary system, namely: CoCrFeNi, AlCoFeNi, AlCoCrNi, AlCoCrFe, and AlCrFeNi. CoCrFeNi (i.e., w/o Al) was found to be Face Centered Cubic (FCC) solid solution, exhibiting relatively low micro-hardness and ductile fracture post SPT measurement. AlCoFeNi (i.e., w/o Cr) was essentially single phase B2. Other alloys had a mixed BCC + B2 dual phase content with variable microstructures and sizes of particles. The fine microstructure of the alloy without Ni implies eutectic solidification or spinodal decomposition. This fine microstructure imposed remarkable high hardness though the alloy was too brittle and unmachinable. Among the BCC/B2 mixture alloys, Fe and Co-less ones resembled the most quinary AlCoCrFeNi in terms of microstructure and mechanical properties.