Really depends on how your camp knives get used. I often camp in a fairly large group, and my knife gets used by a lot of people, and they don't always treat cutlery as reverentially as I do. Hell, I've lent out my knife at night to whoever is cooking dinner, and found it the next morning still soaking in lemon juice or whatever. I'd have a pretty tough time with Carbon V under these conditions. On the other hand, when I go out with a smaller group, it's easier for me to keep an eye on my knife.
Which isn't to say you should or shouldn't get the Master Hunter. Just that it isn't as simple as "just take care of it and it won't rust". Although both these knives are good choices, I personally would be looking at the small Falkniven, or (of course) the TTKK if I were willing to spend a bit more.
Remember also that if you're willing to consider the 440A Northwest Ranger, you should definitely also consider the AUS-8 Master Hunter if you're concerned about rust resistance.
Joe