Did quite a bit of research on that question as well as talking to folks that own either or both. The only CS worth considering is their top of the line. The handle is grippy but some found it abrasive when pivot swings were employed. The single biggest issue is shock transmittal.....plenty with the CS and very little with the Nepal made zone tempered carbon steel knives. That settled it for me.
Then the fact that you get a true authentic blade with an ages proven design is another plus. Some of the bando enthusiasts and those intimately familiar with Gurka history and culture talk about the spiritual nuances associated with the design too. Truth or fiction, the CS blades can't make either claim.
Now I've owned or own many CS blades and feel that the Trailmaster, while overly thick, and the Recon Tanto are excellent values and provide great performance, so I'm not a member of the anti-Lynn Thompson club. Just believe that the real McCoy is better than a modern imitation.
[This message has been edited by bald1 (edited 17 November 1998).]