Mr. Russell seems pretty particular about what he puts in his catalogue, so those Italian made khuk-knives of his must be good for something. By the same token, I have never received a Cold Steel product that didn't do exactly what Lynn Thompson claimed it would.
However, if you get a chance to view Thompson's "More Proof" DVD, he illustrates with complete honesty what one of the drawbacks of a CS khuk is. In one demonstration he chops apart a 2x4 with one of his khuks and it becomes quite an aerobic workout for him. The saber-ground blade gets stuck constantly in the board and most of his effort is spent wrenching it loose. This does not happen with an HI khuk. I tried the same test just for kicks with my 18" AK and got through 2x4s consistantly with three whacks and no sticking. My last attempt did it in two whacks, then I ran out of wood. A strong guy might very well whack through it with one.
I also have an Atlanta Cutlery khuk which I use for tasks which will involve alot of contact with rocks, such as prying them out of tiller tines and planting holes. It also chops well but has the same fault of the CS version. The scabbards that come with these things are practically useless though, and I had to make my own sheath for it. Also, the Karda/Chakma tools that came with it are strictly ornaments and do not even rise to the level of cheap steak knives.
While I am continually amazed at the resilience and precision hardening of the HI blades, the matter might be debated by proponants of other steels, etc. There can be very little argument over the quality/utility of the scabbard supplied with HI products however. In the past I have steered away from products which either did not come in a decent sheath or could not be made to fit in one without some retaining strap or other. The HI scabbard is strong, comfortable to carry and works as intended. If you examine the sheath setups on most of the other "khuks" out there you will probably see that this important aspect is not addressed very well by their manufacturers.