I've been looking into this too.
Once you start sticking the big fork on, I think the Alpine has much better all round geometry. (being a geek, I dumped the dimensions for each frame into CAD and overlaid them). With the 160mm fork fitted, the 5 has quite a slack seat angle, which means it's going to be more of a handful uphill. The Alpine is much steeper, which puts your weight further forward over the front, which has benefits both up (better balance) and down (more front wheel grip). There's not a lot of difference in frame weight either.
Not ridden an AM 5, but had a spin on a normal one, plus a long ride on an Alpine. Thought the Alpine was really fun, whereas the 5 didn't do a lot for me.