I've got an old Pilot's Knife and I don't like it. The balance is weird, I don't care for the blade geometry for slicing, the sawback is bad for batoning, and while logically I know it would work fine I just don't like it.
Some random comments. I am a die-hard fan of Becker knives and feel there are several knives in their line that are absolutely dependable. Note that the Becker-designed knives are now manufactured by KA-BAR; those are the ones to get, not the older Beckers made by different companies. Also note that people say "KA-BAR" often when they're referring to the historic stacked leather handle fighting/utility "US Marines" knife style that is actually made by many different companies. I am a big fan of knives manufactured by KA-BAR; I'm not a fan at all of the stacked leather f/u knife that so many people like. But I know they would work fine. Lastly, the concept of "survival" is kind of a fantasy; have fun with it when you're buying gear, of course, but make sure you buy stuff that will also work for your daily chores and campsite duties since thats what you'll ACTUALLY be using your new toys for. Anyway, random comments over.
You talked about a 5" knife that's easy to sharpen, tough, and good for "survival" as well as all around daily use. I'm thinking the perfect knife for you is one of the Becker Shorts.... either the BK15, BK16, or BK17 depending on what blade design you like the looks of best. KA-BAR's 1095 is easy to sharpen, has an amazing heat treat, is ridiculously tough, and these knives are widely available. There are some fundamental designs that are so good, including the full tang and the exposed pommel. You get a choice of handle colors, and even though the handles are plastic they are very very comfortable and will last a long time. The sheath is GREAT. Finally, these knives are in your price range... people are recommending ESEE knives, and while I own several and am a big fan (hell, I freely call their Izula the 'perfect knife'), these are not in your price range unless you really do some looking for used ones. And their sheaths aren't as good for "survival" imo because of attachment methods and the extra pouch.
Becker also makes two knives that I hope you also look into. They're a little less practical for daily use: the BK-2 is super thick and pretty heavy, and the BK-7 is 7" long. But they are AWESOME. Same benefits as the Shorts, but stronger and also you can get a good chop out of them. When I'm out and about, I kind of prefer a one-knife solution and prefer a BK-2 or BK-7... I can't get very far chopping with a Short.
Good luck.