Mark V mode less gain than in IV mode?

Never played the V so I can't help you there. I own a IV though. I thought the Mark V mode was like a Recto and Mark series blend?

Aside from this; how is the amp? I've been dying to try one and there's simply no music stores near me that carry them. Tons of Line6 crap and Marshall Mode 4, etc, but no higher-end amps.
 
There is no Mark V mode. Are you talking about Extreme? there should be more gain if anything. Extreme is still based on the mark iv circuit but with the presence knob in bryan.