I popped open the Mark V schematic to see what they were doing about the "Pull Deep" functionality and to see how it compares to its implementation on the IIC+.
On the IIC+, the Pull Deep enables a big fat cap on the cathode of the tube immediately following the reverb and effects loop (V2B). The bigger the cap, the deeper the bass extends. (Note that this doesn't add bass, it merely lets bass through that already exists. ) With the Pull Deep disabled (ie, the knob is pushed), the cap is 0.47uF. With the Pull Deep enabled (ie, the knob is pulled), the cap is 15 uF. Big difference.
On the Mark V, the equivalent part of the circuit is V6A. This part of the circuit is only for channel 3, unlike on a IIC+, where it is used for the clean channel, too. On the Mark V, the V6A circuit does appear to be used for all three modes of channel three...modes "M7", "M8", and "M9". Presumably, M7 is the IIC+ mode, M8 is the Mark IV mode, and M9 is the extreme mode.
On the cathode of V6A, the IIC+ mode (M7) has 4 uF worth of caps. In the other two modes (M8 and M9) there is the 15 uF cap.
It's interesting that the Mark V's IIC+ mode uses 4 uF and not the Mark IIC+'s actual value of 0.47 uF. By using the bigger cap (but not quite the full 15 uF), they'd get something that's not quite "Pull Deep", but also not "not Pull Deep".
After this point in the cicruict, there's lots that's different compared to a real IIC+. The effects loop, for example, is in a totally different place and, as a result, has added another gain stage. Also, Doug West's 0.22 uF cap for the EQ vs the stock 10 uF cap would also greatly alter the voicing. So the net effect of these alterations could easily have suggested to them that they should make their own alterations to the earlier circuits (such as V6A) to compensate.
Whatever their reason, I find it interesting how they chose to handle the Pull Deep issue.
Chip