I owned and used a trailmaster (the san mai one with the full convex grind and convex edge). I used it for 7 years. It was a great knife.
I have 4 Busse's now (including the FBMLE). I sold the Trailmaster a while ago, passed it on to a good home.
Out of the two I would take the Trailmaster. One down side about the krayton handle, is that it is a bit too grippy for extended chopping. It can grab the hand too much, and give blisters. If your hands are tougher with more calluses it is not as big of a deal. It only really bothered me with extended chopping. Normally what ever job I was doing was over by that point.
That said, If I was you, I would search the exchange linked above (the busse exchange forum) for a Scrap Yard DogFather. They are a bit more than the CS tralimaster (the carbon steel one)
I have seen them for about $90 for the SK5 steel ones
http://www.swordsswords.com/Cold-Steel-Trail-Master-Bowie-Knife.aspx. (I have never ordered from this site, just showing the price that you can find out there, do some research)
That is definitely worth the money. The sheath won't impress you too much, but it does the job.
at $150 for the CS trailmaster, I would definitely save up the extra 50 ish bucks for a Scrapyard dogfather, or a Swamprat Battlerat (less common to see up for grab). I would search the forum for one. They are a great value, and the steel is going to be stronger. The design also eliminates the heat treating stress riser points that are on the trailmaster (still a strong knife, but that is a design problem). The handles on the dogfathers and the battlerats have a resiprine C handle, which is a much much much tougher material than krayton. It is less likely to give you blisters, and does not retain fluids, and is much less heat sensitive.
The battlerat or scrapyards both have an unbeatable guarantee, if you unintentionally break the knife, they will replace it.
Of course you could save up 500 and buy a busse battlemistress, they are super sweet. They are fun to beat on. I never though I would drop that kind of money on a knife, but I have 4 now.