If you can believe the ad copy from Crucible Services, S5 is tougher than S7 at any given hardness and it's an oil-quenched steel like 5160 whereas S7 is supposed to be air-quenched.
Near RC60, S7's charpy score is 85 foot pounds, the same as CPM3V. It gets much tougher when ran a little softer and resists up to 125 foot pounds in that test at RC57.
S5, at RC60, resists 138 foot pounds and at RC57 can resist up to 156 foot pounds.
The C-Notch charpy test involves grinding and polishing a piece of steel so that it has a c-shaped piece missing from its testing surface, whacking the steel with a hammer, and measuring the force required to fracture the piece of steel. It's not a be-all/end-all test, but it gives an idea of the how various steels resist breaking at various hardnesses.
Such results, especially as cobbled from a single source, do not a perfect blade steel make. They do, however, point to S5 being a good steel for idiot-resistant field knives and that's why the steel appeals to me!