Thanks for all the responses, very good read, sometimes a bit too technical for me but interesting nevertheless.
As mentioned above, the deep switch on the Mark III is indeed impressive with a thundering low end that makes my nuts swing in front of a cab. But it can be too much, so it depends on my mood whether I use it or not.
Finally my new Mark V arrived and I got a chance to play with it today. Although I'm still in the process of tweaking, I can already say that this is a quality amp for sure (ok, you already know that but you have to experience this in person). Versatile and tight chugga chugga, gotta love it! Someone said in this thread that it would have a more refined sound than the III. I totally agree. The V is maybe not as raw sounding, but I wouldn't call it less agressive. The V is beastly as well. Enough low end too.
I haven't really A/B-ed them today, but playing with the V made me realize that the III is an amazing amp. IMHO, I think that you can really hear that the V is made in the vein of the Mark series, it has all the Mark series goodness and then some. For now, I will keep the Mark III because luckily I don't have to make a choice between the two. I'm glad that I bought the Mark V, it is pure joy to play with it.