Personally, I would look at it like this.
The 05 has a winding cross section of 20 passes of wire (4 wires x 5 turns)
The 03 has a winding cross section of 24 passes of wire (8 wires x 3 turns)
The 03 wind has 17% better copper fill.
The 03 wind has lower resistive losses.
The 03 is capable of higher torque, better power handling, and better top speed.
The difference is in the 03 needing higher phase current to get the same torque as an 05. However, it's able to draw this current at a lower voltage, which means the power being drawn from the batteries will still be the same for a given power level, and the 03 wind is more efficient with the power you feed it due to better copper fill.
IMHO, the 03 is a better option for ALL applications, assuming you have a controller that is up to the task of making it work correctly. If you have a weenie controller, then the 05 would be a better option, though efficiency and performance will be lower.