Compared, both shovels seem to be of the same weight and balance the same in the hand. I prefer the feel of the handle on the Russian variant. It is rougher, and the swell near the bottom of the handle allows for a more positive grip. The slick polyurethane on the Cold Steel shovel doesn't offer as good of a grip but it's not bad. The Cold Steel does have the benefit of a factory-sharpened blade that is quite good, but will chip and dent if abused on something other than wood and dirt (guilty as charged :o). It makes chopping and cutting tasks much easier as you can imagine, and is beneficial for defensive use.
Really, you can't go wrong with either of these great shovels. The Cold Steel shovel can be had for less than $20 USD without the sheath. With the sheath, expect to pay as little as $25 if you shop around. Original Russian issue shovels are more expensive, but still affordable. eBay is a great source and you can get unissued examples in the $50-$60 range or even quite a bit less if you catch a deal. If think it's worth it for the collector's value and "cool factor", but as a used the Cold Steel is every bit as good.
Both of these shovels are extremely well constructed, and are incredibly tough. This design is very practical, both as a tool and a weapon. They are useful for everything from chopping down small trees and clearing light brush, digging yourself a slit trench, to defending yourself from attack. They are ideal to throw in the trunk or in a backpack. If you don't own one of these, I highly recommend getting one.
Thanks all! :D