According to this site, grade 2 is actually a lot harder than grade 5:
http://aircraftmaterialsuk.com/data/electronic/altit.html
The hardness rating on that site is a typo; From the Aerospace Specification Metals datasheets:
Titanium Grade 2:
Hardness, Knoop 170
Hardness, Rockwell B 80
Hardness, Vickers 145
Titanium Ti-6Al-4V (Grade 5)
Hardness, Knoop 414
Hardness, Rockwell C 41
Hardness, Vickers 396
See the full spec sheets here:
http://www.aerospacemetals.com/titanium.html
Grade 5 is pretty much as hard as titanium/-alloys get, here's the full grade chart:
ASTM Grade / Alloy Composition / Min.Tensile (KSI) / Min.Yield (KSI) / Modulus of Elasticity (PSI-106)
1 Unalloyed Ti ("Pure") 35A 35 25 14.9
2 Unalloyed Ti ("Pure") 50A 50 40 14.9
3 Unalloyed Ti ("Pure") 65A 65 55 14.9
4 Unalloyed Ti ("Pure") 80A 80 70 15
5 Ti-6Al-4V 130 120 16.4
6 Ti-5Al-2.5Sn 120 115 16
7 Ti-0.15Pd 50 40 14.9
9 Ti-3Al-2.5V 90 70 13.1
10 Ti-11.5Mo-6Zr-4.5Sn 100 90 14.9
11 Ti-0.15Pd 35 25 14.9
12 Ti-0.3-Mo-0.8Ni 70 50 14.9
13 Ti-0.5Ni-0.05Ru 40 25 14.9
14 Ti-0.5Ni-0.05Ru 60 40 14.9
15 Ti-0.5Ni-0.05Ru 70 55 14.9
16 Ti-0.05Pd 50 40 14.9
17 Ti-0.05Pd 35 25 14.9
18 Ti-3Al-2.5V-0.05Pd 90 70 15.3
19 Ti-3Al-8V-6Cr-4Zr-4Mo 115 110 14.9
20 Ti-3Al-8V-6Cr-4Zr-4Mo-0.05Pd 115 110 14.9
21 Ti-15Mo-2.7Nb-3Al-0.25Si 115 110 14.9
23 Ti-6Al-4V ELI 115 110 16.3
24 Ti-6Al-4V-0.05Pd 130 120 16.4
25 Ti-6Al-4V-0.5Ni-0.05Pd 130 120 16.4
26 Ti-0.1Ru 50 40 14.9
27 Ti-0.1Ru 35 25 14.9
28 Ti-3Al-2.5V-0.1Ru 90 70 13.1
29 Ti-6Al-4V-0.1Ru 120 110 16.3
Knowing all this, I'd definitely go with the McGizmo if I were in the market for a Ti light.