In recent months, I've been able to acquire rolls of both PIA-C-5040E Type II and MIL-C-5040H Type II (both 4 strand, w/3 yarns per strand) and PIA-C-5040E Type IV and MIL-C-5040H Type IV (both 11 strand w/3 yarns per strand). In each case I've received signed and dated Certifications from the manufactuer with the month/year of manufacture (e.g. 2-2012 or 5-2012) along with certified Chain of Custody reports. (In these cases I was the second possessor of these rolls, the manufactuer being the first and only other.)
The Type II is rated at 400 pounds, but is much smaller and lighter than Type III (yet is almost as strong). In my view, the Type II could be better suited and more practical in some cases, such as being ideal for small survival kits.
The Type IV is rated at 750 pounds, and as with the Type II, one of the strands is the color that was assigned to the manufactuer by the DoD.
During my search for recently manufacutured verifide MIL-C-5040H, I found out from the manufacturers that the MIL-C-5040H Dept. of Defense specifications are in part being phased out in favor of PIA-C-5040 specs. I think the most current of the PIA specs are now up to PIA-C-5040
E. I was told by the owner of one paracord manufactuer that the only difference between MIL-C-5040H and PIA-C-5040E is that the PIA-C-5040E is tested for pH (acidity). Acidity has to do with the deteriation/life of the cord.
In any case, I found an article that indicates that PIA-C-5040E Type III para-cord is now being specified for use in Military C-9 Parachutes (in liew of MIL-C-5040H Type III).
http://www.parachuteshop.com/C-9_surplus_parachute.htm
There is no life limit on these parachutes; presumably that's why the paracord in these are tested for pH under the PIA standards. This article further indicates that PIA-C-5040E Type III was used in the parachutes for the "ACES II ejection seats in F-15, F-16" and "pretty much all current U.S. jet fighters and personal parachutes in cargo airplanes like the C-130."
Even though the PIA-C-5040E Type IV is rated at 750 pounds, it actually breaks at 1,000 pounds. I think of it as being an order of magnature stonger than any Type III cord.
If considering the acquisition of MIL-C-5040H cord, my suggestion is to not limit your search to Type III (500), but also consider Type II (400) or Type IV (750). Also keep in mind that PIA-C-5040 is in most all respects the same as MIL-C-5040, except that PIA-C-5040's ratings include standards relative to longevity/storage - and for this reason PIA-C-5040 has an advantage over MIL-C-5040.