Kershaw's are decent looking knives, but frankly rarely use very good steel--AUS-8 is about as good as it gets, and there are better steels you can get for the same money. They also tend to mostly use liner locks, and again, this isn't the most desirable locking mechanism. Have one close on you once and take a finger half off, and you'll never trust another liner lock.
I'm not familiar with that particular model of cold steel without looking, but it would depend on the model if the cold steel is preferable. It is likely that at the least the cold steel uses a traditional lockback design, which to me would be preferable, and it is also likely that at the least it has AUS-8. If it has their old carbon v or whatever it was called, that's definitely a better steel IMO.
If the CS turns out to just have the AUS-8, which is an unfortunate direction they seem to have headed in, then in all honesty I'd look for something different than either. Go for a traditional lockback or something like an axis lock from benchmade.