Of course, it would help us to judge, at least a little, if Cold Steel had actually told us what Carbon V was. I remember a chemical analysis I saw done on it, and it had a little more carbon than SK5/1085 appears to have. I know a big chunk of it was the heat treating process they claimed to have perfected for the wonder that was Carbon V, but composition plays a big role. I like my trailmaster, but it was a bit brittle at the edge. I hope they do a little better on the SK5 (1085 with minute trace elements), though from a performance standpoint, the Carbon V will be a pretty tough act to follow.
But with the magic of Carbon 5 gone, I may have to go with a Camillus, Ontario or Ka-Bar bowie next time I'm in the market. Ka-Bar started making a good big bowie out of 1085 a few years back, and it is about half the price of the new trailmaster. What's your money worth?