I have a Pesh Kabz [large] in the Meir damascus. I had an exotic wood handle done and engraving on the bolster. I don't suggest wood scales or the engraving [but I do like both, though

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The knife is really outstanding in several respects. It is a very light and trim design that is very easy to carry in many different ways, but it is still quite alot of knife. That's quite an accomplishment right there. The MCS carry system itself is one of the best and most versatile carry systems out there. Maybe the best. There are many ways to carry and because of the knife design, all the options are really practical. Personally, I really like being able to carry inverted in a jacket inside pocket or an outside vest pocket. That's not practical with most knives, but this one is so light it works very well. Inside belt carry works too in several different positions, which isn't the case with many knives. And the sheath lockup is very solid, with or without the "rare earth magnets", but that affords an extra degree of secirity and confidence.
The Meir clad damascus itself is also outstanding. First of all, it is gorgeous. I have always liked 52100 and the core is 52100. It cuts extremely well. And the Pesh Kabz blade design is really excellent, with a reinforced tip for strength and a very elegant "persian" sweep for penetration and cutting. The handle shape is both elegant and practical so your hand will not slide forward onto the blade or backward off the handle. My hands are a little large but the size of the larger knife is just right for me. And, amazingly for such a thin knife, it feels good in the hand.
I don't know about the smaller Pesh Kabz because I don't have one. It depends on your hand and your intended use. Try to handle one before you buy. You might find the 5 incher to be light and compact enough for your needs, and a bigger blade can be more effective for some purposes...
I think it's a great knife. I don't know the prices now, but years ago when I bought mine it was really well priced, a bargain really. Did I mention that the damascus was gorgeous?