The Trail Hawk has been used for quick notching of small timbers (framing a hut), splitting wood, pounding nails and tent stakes....I drilled a hole in the end of the handle and added a nylon strap fitted to keep it in the hand if swinging rapidly. You're right about its splitting ability but could be worse.
In yet another BOB, my primary, I have the Ontario Spec 10" Machete...now this is a splitting machine and one of my favorite pieces of all time...living so close to Smoky Mountain Knifeworks in the Pigeon Forge area I recently had it sharpened there, but it is quite heavy, almost twice as heave as the Trail Hawk.
As an ultralightweight backpacker I've often broken the rules and carried the Trail Hawk, in the Great Smoky Mountains National Park they have shelters with fireplaces and the hawk was used several times to shorten the limbs for the fireplace...granted a bow saw would have done the trick, but a tomahawk on the backpack has a distinct symbolism.
Also picked up the Cold Steel Hunter yesterday, not a bad knife for $57. I carry a backpack everywhere I go so my EDC is quite large, this is distinct from the BOBs in the trunks of the vehicles. On this backpack currently is attached a Gerber LMF but I'm thinking the CS Hunter may replace it and the Gerger go into a BOB, at least the LMF has a pommel for pounding.