Has anyone ever had any experiences with SK-5? I know that SOG and Cold Steel both use it in various different models.

Good, Bad??

i know the sk-5 high carbon is used on the cold steel bushman and for a thin knife its very tough and performs pretty well. so...

Sk-5 is similar to 1080 and W1. Will not hold an edge as long as 1095. It can take some abuse, see CS bushman on knifetests website if you haven't already.

Will it hold a keen edge, just for not as long as 1095 would?
Would this steel be decent as an all arounder (slicing, chopping, etc..)

Correct. I believe SK5 has a lower carbon content but it will hold it's own when it's heat treated well. Good choice for chopping, it should handle hard use without a problem. Slicing depends on the edge thickness and blade geometry.