I have one and a few trailmasters. The sk-5 is good steel, no prob's with edge retention.
the laredo is a good knife, better edge geometry for slicing than the trailmaster and chops pretty well.
If you want more utility than cool go for the trailmaster, you can choke up on the blade or drawknife with it without the sharpened clip of the laredo.
I bought the laredo primarily because it was cool after using a trailmaster but it is actually functional as well.
I also agree there are good customs around for the pricepoint.